Crude oil gets the positive momentum – Analysis - 08-03-2019
Economies.com
2019-03-08 05:12AM UTC
Crude oil price returns to test the bullish channel’s support line, accompanied by stochastic reach to the oversold areas, which forms positive motive that we are waiting to push the price to resume the main expected bullish wave for the upcoming period, which its targets begin by breaching 57.46 to confirm rallying towards 60.00 followed by 64.90 levels that represents our next main targets.
Therefore, we will continue to suggest the bullish trend for today, noting that breaking 56.00 will stop the expected rise and press on the price to test 54.50 areas before any new attempt to rise.
The expected trading range for today is between 55.00 support and 58.00 resistance.
The expected trend for today: Bullish
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