Crude oil price crawls upwards – Analysis - 14-04-2021

Crude oil price shows calm bullish bias to move away gradually from 59.85, which hints the price attempt to recover and regain the main bullish trend, which makes us prefer staying aside until we get clearer signal for the next trend, which we will get through breaching 60.75 resistance or breaking 59.85 support.

Note that the continuation of the rise and breaching the mentioned resistance will lead the price to achieve new gains that start at 62.25 followed by 63.75, while breaking the support represents the key to reactivate the correctional bearish scenario that targets 57.25 followed by 54.85 levels as next negative stations.

The expected trading range for today is between 59.00 support and 62.00 resistance.

The expected trend for today: Neutral