Crude oil price gathers the positive momentum – Analysis - 19-04-2021
Economies.com
2021-04-19 01:19AM UTC
Crude oil price shows some bearish bias after approaching 64.00 level, to head towards potential test to the key support base 62.20, accompanied by stochastic getting rid of the negative momentum and reaching the oversold areas, waiting to motivate the price to resume the expected bullish trend for the upcoming period, which its next main target located at 67.95.
We should note that breaking 62.20 will put the price under additional negative pressure that targets testing 59.85 areas before any new attempt to rise.
The expected trading range for today is between 62.00 support and 64.50 resistance.
The expected trend for today: Bullish
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