Crude oil price reaches the first target – Analysis - 31-05-2022
Economies.com
2022-05-31 04:07AM UTC
Crude oil price begins today with strong positivity to reach our first waited target at 117.00, reinforcing the expectations of continuing the main bullish trend, and we believe that the way is open to continue the rise and reach the extended target at 119.35.
Therefore, the bullish trend scenario will remain valid and active supported by the EMA50, noting that the continuation of the bullish wave depends on the price stability above 113.70.
The expected trading range for today is between 115.00 support and 119.35 resistance.
The expected trend for today: Bullish
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