Crude oil price gathers the positive momentum – Analysis - 18-04-2019
Economies.com
2019-04-18 03:46AM UTC
Crude oil price bounced bearishly after approaching 64.90 level yesterday, to test the intraday bullish channel’s support line that appears on the chart, accompanied by stochastic reac to the oversold aras, which forms positive motive that we are waiting to assist to push the price to rise again, noting that our main targets begin by breaching the mentioned level to open the way to head towards 67.00.
The EMA50 keeps supporting the suggested bullish wave, noting that breaking 63.55 will press on the price to decline and test 61.70 areas before any new attempt to rise.
The expected trading range for today is between 63.00 support and 66.00 resistance.
The expected trend for today: Bullish
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