Crude oil price is stable – Analysis - 07-08-2020
Economies.com
2020-08-07 04:14AM UTC
Crude oil price settles around 42.00 level, showing tight trades since yesterday, while the EMA50 keeps providing the positive support to the price, to continue suggesting the bullish trend for the upcoming period, waiting to breach 43.05 to confirm extending the bullish wave towards 45.00.
On the other hand, we should note that breaking 41.05 will stop the expected rise and press on the price to start intraday bearish correction.
The expected trading range for today is between 40.50 support and 43.50 resistance.
The expected trend for today: Bullish
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