Crude oil price is recovering – Analysis - 04-05-2021
Economies.com
2021-05-04 00:29AM UTC
Crude oil price settles above 64.35 level again, getting continuous positive by the EMA50, to keep the bullish trend scenario valid and active for the upcoming period, and the way is open to achieve our first waited target at 65.60, noting that breaching this level will extend the bullish wave to reach 67.95.
Holding above 64.35 represents initial condition to continue the expected rise, as breaking it will put the price under intraday negative pressure that targets testing 62.90 areas again before any new positive attempt.
The expected trading range for today is between 63.30 support and 66.40 resistance.
The expected trend for today: Bullish
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