Crude oil price resumes rising – Analysis - 21-05-2020
Economies.com
2020-05-21 00:31AM UTC
Crude oil price provided a caler positive trading and approaching from 34.00 barrier, to support the continuation of the expected bullish trend scenario on the intraday and short term basis,pointing that the bullish channel that has positive targets that extend to 36.50.
Therefore, we keep preferring the bullish trend in the upcoming period, supported by the EMA50, being aware that breaking 32.60 might push the price to test important support levels that begin at 32.05 then 31.35 before any attempt for the price rise.
The expected trading range for today is between 32.00 support and 36.00 resistance.
The expected trend for today: Bullish
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