Crude oil price breaches the resistance – Analysis - 19-02-2020

Crude oil price ended yesterday’s trading above 51.80, starting today with more rise to hint heading to achieve more gains on the intraday basis, as it moves inside an intraday bullish channel that appears on the chart, which supports the chances of heading towards 53.25 followed by 54.60 levels as next positive stations.

Therefore, the bullish trend will be suggested for today, supported by the EMA50, taking into consideration that breaking 51.80 will stop the expected rise and press on the price to return to the main bearish track again.

The expected trading range for today is between 51.80 support and 54.60 resistance.

The expected trend for today: Bullish