Crude oil faces solid resistance – Analysis - 13-03-2019

Crude oil price continues to fluctuate near the key resistance 57.46 without managing to breach it until now, noticing that stochastic begins to overlap positively now, which forms positive motive that we are waiting to assist to achieve the required breach to reinforce the expectations of extending the bullish wave on the short term basis, as our next targets located at 60.00 followed by 64.90.

Therefore, we will keep our bullish overview for today supported by moving above the EMA50, conditioned by the price stability above 56.20.

The expected trading range for today is between 56.20 support and 59.00 resistance.

The expected trend for today: Bullish