Crude oil price hits the first target – Analysis - 06-08-2020
Economies.com
2020-08-06 03:56AM UTC
Crude oil price found solid resistance at our first waited target at 43.05, to trade negatively now and test 42.00, noticing that the EMA50 supports the price from below, while stochastic gets rid of its negative momentum to reach the oversold areas.
Therefore, these factors encourage us to continue suggesting the bullish trend for the upcoming period, which its next target located at 45.00, while holding above 41.05 represents key condition to achieve it.
The expected trading range for today is between 41.00 support and 43.50 resistance.
The expected trend for today: Bullish
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