Crude oil price within sideways track – Analysis - 29-03-2019
Economies.com
2019-03-29 05:31AM UTC
Crude oil price shows calm positive trades to move away gradually from the EMA50, noticing that the recent trades are confined within sideways range that we believe it forms rectangle pattern that appears on the chart, thus, breaching 60.30 will provide positive motive that supports the chances of continuing the main bullish trend, which its next target located at 64.90.
Therefore, we will continue to suggest the overall bullish trend, noting that breaking 59.15 will put the price under negative pressure that targets testing 57.46 areas before any new attempt to rise.
The expected trading range for today is between 58.30 support and 61.50 resistance.
The expected trend for today: Bullish
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