Crude oil price negotiates the channel’s support – Analysis - 22-05-2020

2020-05-22 00:53:28 GMT (Economies.com)
 

Crude oil price begins today with slight bearish bias, to press on the minor bullish channel’s support, while the EMA50 keeps providing positive support for the price, to protect the suggested positive scenario in our last reports, which targets 36.50 level as a next main station.

 

Therefore, we will keep preferring the bullish trend for today, being aware that breaking 32.65 will stop the suggested bullish trend and presses on the price to begin a bearish correction on the intraday basis.

 

The expected trading range for today is between 32.30 support and 36.00 resistance.

The expected trend for today: Bullish

 
 
 
  Symbol Last Change Chg.%
1.1299
-0.0032
0.2815%
1.2625
0.0118
0.9439%
Tadawul
7416.67
22.41
0.30%
18.684
0.338
1.840%
40.015
-0.220
0.547%
42.91
0.56
1.32%
1796.115
10.130
0.567%
 
 
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