Crude Oil gathers momentum – Analysis - 25/05/2015
Economies.com
2015-05-25 04:50AM UTC
Crude oil price hovers near the EMA50 as appears in the chart, noticing that stochastic gathers positive momentum gradually approaching from the oversold levels, which supports the chances of bouncing higher to resume the expected bullish trend in our last reports, which depends mainly on the stability above 58.18 level.
Therefore, we will keep our positive expectations, which its targets begin at 62.55 and extend to 66.10, reminding you that breaking 58.18 level will put the price under the negative correctional pressure again.
Expected trading range for today is between 59.00 support and 62.00 resistance.
Expected trend for today: Bullish
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