Crude oil price managed to rally to the upside surpassing 92.85, providing positive signals for more rising on the intraday basis, but it needs to breach the EMA50 at 93.55 to confirm heading towards the falling wedge’s resistance at 94.65
Stochastic negativity might force the price for some fluctuation and temporary bearish bias, taking into consideration that trading below 92.75 then 92.20 will push negatively which will force the price to visit the wedge’s support at 91.10.
Expected trading range for today is between: 91.10 support and 95.00 resistance.
Expected trend for today: Bullish