Crude oil price needs the positive momentum – Analysis - 11-12-2019

2019-12-11 05:41:52 GMT (Economies.com)
 

Crude oil price keeps fluctuating near 59.00 level, noticing that stochastic attempts to get rid of its negative momentum, waiting for getting enough positive momentum for resuming the main bullish trend, which organizes within the bullish channel that appears in the image, reminding you that our next main target at 60.90.

 

The EMA50 keeps supporting the suggested bullish wave, and its continuation requires holding above 57.40 level.

 

The expected trading range for today is between 58.00 support and 60.90 resistance.

 

The expected trend for today: Bullish

 

 
 
 
  Symbol Last Change Chg.%
1.1025
-0.0069
0.6179%
1.3073
0.0072
0.5534%
Tadawul
8333.95
-52.40
0.62%
18.104
0.083
0.458%
54.273
-4.505
7.665%
60.77
-1.26
2.03%
1570.630
13.715
0.881%
 
 
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