Crude oil price settled above the bullish channel’s support line again, to stop the recently suggested temporary scenario negative and head to resume the main bullish trend, which is affected by the previously completed inverted head and shoulders’ pattern, waiting to visit 64.90 level as a next main station.
Therefore, the bullish bias will be suggested for today, supported by the EMA50, unless breaking 59.95 followed by 59.15 levels and holding below them.
The expected trading range for today is between 59.00 support and 62.00 resistance.
The expected trend for today: Bullish