Crude oil price achieves more gains – Analysis - 16-09-2020

Crude oil price resumed its positive trading strongly to surpass 38.42 and settles above it, which supports the expectations of continuing the bullish trend on the intraday and short term basis, and the way is open to visit 40.00 followed by 40.60 levels that represent our next main targets.

Therefore, we will continue to suggest the bullish bias for the upcoming period supported by the EMA50, noting that breaking 38.42 followed by 38.10 levels will stop the expected rise and press on the price to decline again.

The expected trading range for today is between 37.50 support and 40.60 resistance.

The expected trend for today: Bullish