Crude oil price tests the channel’s support – Analysis - 04-06-2020
Economies.com
2020-06-04 04:57AM UTC
Crude oil price continues to fluctuate near 36.10 support line and keeps its stability above it, to remain stable inside the bullish channel that appears on the chart, noticing that the EMA50 keeps supporting the price from below, while stochastic approaches the oversold areas.
Therefore, theses factors encourage us to suggest the bullish trend for the upcoming period, reminding you that our next target is located at 41.04, while breaking 36.10 represents negative factor that will press on the price to start correctional bearish wave on the intraday basis.
The expected trading range for today is between 35.50 support and 39.00 resistance.
The expected trend for today: Bullish
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