Crude oil price tests the support – Analysis - 10-04-2019
Crude oil price settles above the key support 63.70 until now, accompanied by stochastic getting rid of the negative momentum clearly and approaching the oversold areas, while the EMA50 keeps providing the positive support to the price.
Therefore, these factors encourage us to continue suggesting the bullish trend in the upcoming sessions, which its targets begin by breaching 64.90 level to confirm the extension of the bullish wave towards 66.85, noting that breaking 63.70 will press on the price to start intraday bearish correction that targets testing 62.45 and might extend to 60.80 levels before any new attempt to rise.
The expected trading range for today is between 63.00 support and 66.00 resistance.
The expected trend for today: Bullish
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