Crude oil price within a positive pattern – Analysis - 05-04-2019
Economies.com
2019-04-05 03:55AM UTC
Crude oil price’s recent trades are confined within minor bearish channel that we believe it forms bullish flag pattern, which means that the price needs to breach 62.60 level to activate the positive effect of this pattern followed by rallying towards our main waited target at 64.90.
Therefore, we will keep our bullish overview in the upcoming sessions conditioned by the price stability above 61.10, noting that the EMA50 keeps supporting the suggested bullish wave.
The expected trading range for today is between 61.00 support and 64.00 resistance.
The expected trend for today: Bullish
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