Crude oil crawls upwards – Analysis - 17-07-2017
Economies.com
2017-07-17 03:23AM UTC
Crude oil price settles around 46.60 level, and the price gets continuous positive support by the EMA50, which reincforce the chances of continuing the bullish wave that moves organized inside the bullish channel that appears on chart, waiting for more rise in the upcoming sessions, and we believe that the way is open to visit our main target at 48.37.
Therefore, the bullish trend scenario will remain valid and active for today, noting that breaking 45.60 will push the price to test the most important support to the short term trading at 44.10 before any new attempt to rise.
Expected trading range for today is between 45.60 support and 48.37 resistance.
Expected trend for today: Bullish
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