Crude oil price needs the positive momentum – Analysis - 13-05-2021
Economies.com
2021-05-12 23:19PM UTC
Crude oil price closed the daily candlestick above 65.60 level, to get positive motive that reinforces the expectations of continuing the main bullish trend, organized inside the bullish channel that appears on the chart, waiting to visit 67.95 level as a next main target.
The EMA50 keeps supporting the suggested bullish wave, noting that failing to consolidate above 65.60 might press on the price to test 64.35 areas initially before any new attempt to rise.
The expected trading range for today is between 64.35 support and 67.00 resistance.
The expected trend for today: Bullish
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