Crude oil price surpasses the first target – Analysis - 04-12-2020
Economies.com
2020-12-04 05:20AM UTC
Crude oil price opened today’s trading with strong rise to succeed achieving our first waited target at 46.21 and breach it to settle above it, which supports the expectations of continuing the bullish trend on the intraday and short term basis, paving the way to continue rising towards our next positive target that reaches 48.00.
Therefore, the positive scenario will remain suggested for the upcoming period supported by the EMA50 that keeps carrying the price from below, noting that the continuation of the bullish wave requires holding above 45.25.
The expected trading range for today is between 45.25 support and 48.00 resistance.
The expected trend for today: Bullish
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