Crude oil price within sideways track – Analysis - 14-06-2019
Crude oil price tested the key support 51.61 without managing to break it, to keep the price stuck within sideways track that its lines represented by the mentioned support and 54.47 resistance, which makes us suggest the domination of the sideways bias on the intraday trades until the price succeeds to surpass one of the mentioned levels.
Note that breaking the mentioned support will press on the price to resume the short term bearish trend and head towards 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, targeting 57.33 areas initially.
The expected trading range for today is between 51.50 support and 54.00 resistance.
The expected trend for today: Sideways
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