Crude oil price attempts to recover – Analysis - 28-05-2019
Economies.com
2019-05-28 01:42AM UTC
Crude oil price shows positive trading to complete forming a minor double bottom pattern, which hints the price head to achieve some intraday gains and retest the previously broken neckline of the double top pattern at 60.00 before resuming the correctional bearish wave again.
Therefore, the bullish bias will be suggested for today unless breaking 58.35 followed by 57.33 levels and holding below them, noting that breaching 60.00 followed by 60.86 levels will stop the expected bearish correction and lead the price to regain the main bullish track again.
The expected trading range for today is between 58.00 support and 60.86 resistance.
The expected trend for today: Bullish temporarily
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