Crude oil gets the positive motive – Analysis - 13-11-2017

Crude oil price retested the previously breached resistance of the minor bearish channel that appears on chart and keeps its stability above it, which keeps the positive effect of the bullish flag pattern active, waiting for more rise in the upcoming period, which gets continuous positive support by the EMA50.

Therefore, we believe that the way is open to head towards our positive targets that begin at 59.40 and extend to 60.65, noting that holding above 56.40 represents the first condition to continue the expected bullish trend.

Expected trading range for today is between 56.00 support and 59.00 resistance.

Expected trend for today: Bullish