Crude oil price needs the positive momentum – Analysis - 10-02-2021
Economies.com
2021-02-10 04:46AM UTC
Crude oil price keeps its stability above 58.00 barrier, facing difficulty to continue the rise due to the weak positive momentum, waiting to get positive momentum that assists to push the price to resume the main bullish trend that its next target located at 59.70.
Until now, the bullish trend scenario still valid and active for the upcoming period supported by the EMA50, noting that breaking 57.50 will stop the expected rise and press on the price to start correctional bearish wave on the intraday basis.
The expected trading range for today is between 57.00 support and 60.00 resistance.
The expected trend for today: Bullish
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