Crude oil price tests the support – Analysis - 21-05-2019
Economies.com
2019-05-21 00:46AM UTC
Crude oil price tested the key support 62.40 and bounced bullishly from there, to approach the intraday bullish channel’s resistance at 63.95, waiting to breach this level to ease the mission of continuing the main bullish wave, which targets 65.00 as a next main station.
Stochastic begins to overlap positively to support the expectations to rise, noting that breaking 62.40 will press on the price to test 61.25 – 60.86 areas before any new attempt to rise.
The expected trading range for today is between 62.40 support and 65.00 resistance.
The expected trend for today: Bullish
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