Crude oil gets the positive momentum – Analysis - 22-02-2019
Economies.com
2019-02-22 05:15AM UTC
Crude oil price settles near the bullish trend line, noticing that stochastic reaches the oversold areas, while the EMA50 continues to provide the positive support to the price.
Therefore, these factors encourage us to suggest the bullish bias in the upcoming sessions, and the chances are valid to breach 57.46 level to confirm opening the way to head towards 65.00 on the near term basis, taking into consideration that breaking 56.40 will press on the price to decline towards testing 54.50 areas before any new attempt to rise.
The expected trading range for today is between 56.00 support and 59.00 resistance.
The expected trend for today: Bullish
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