Crude oil price crawls upwards – Analysis - 29-05-2019
Economies.com
2019-05-29 00:16AM UTC
Crude oil price provided positive trading yesterday to approach 60.00 level, to keep the positive scenario suggested in the upcoming sessions depending on the positive effect of the minor double bottom pattern, which targets 60.00 and might extend to 60.86 levels before turning back to resume the correctional bearish trend.
On the other hand, we should note that breaking 58.35 followed by 57.33 levels will stop the suggested positive scenario and press on the price to decline towards 54.47 areas on the near term basis.
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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