Crude oil price gathers the positive momentum – Analysis - 14-08-2020
Economies.com
2020-08-14 04:25AM UTC
Crude oil price settles above the EMA50, and we notice that stochastic reaches the oversold areas, which supports the chances of resuming the expected bullish trend for the upcoming period, which its targets begin by surpassing 43.05 to head towards 45.00 as a next positive station.
Therefore, the positive scenario will remain active on the intraday and short term basis, noting that breaking 41.05 will press on the price to start correctional bearish wave before resuming the main bullish trend again.
The expected trading range for today is between 41.05 support and 44.50 resistance.
The expected trend for today: Bullish
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