Crude oil price tests the support – Analysis - 18-06-2019
Crude oil price continues to fluctuate at the sideways range’s support line at 51.61, and the price still confined inside this range that its resistance line located at 54.47, to continue suggesting the sideways move on the intraday basis until the price manages to confirm breaching one of these levels.
We remind you that breaking the mentioned support will press on the price to target the next correctional target at 48.08 as a next main station, while breaching the resistance will push the price to start recovery attempts and regain the main bullish trend again, as the positive targets begin at 57.33 and extend to 60.86.
The expected trading range for today is between 50.00 support and 53.50 resistance.
The expected trend for today: Sideways
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