Crude oil price awaits the breach – Analysis - 11-04-2019

Crude oil price finds difficulty to breach 64.90 level until now, to head towards potential test to the key support 63.70, as the price is affected by stochastic negativity, noticing that the EMA50 keeps providing the positive support to the price, which reinforces the continuation of trading inside the main bullish channel that appears on the chart.

Therefore, we will continue to suggest the bullish trend for today unless breaking 63.70 level and holding below it, as breaking it will press on the price to achieve negative targets that begin at 62.95 and might extend to 60.70 before any new attempt to rise, while breaching 64.90 will ease the mission of heading towards our next positive target at 66.85.

The expected trading range for today is between 63.00 support and 66.00 resistance.

The expected trend for today: Bullish