Crude Oil rallies sharply 20/11/2012
Economies.com
2012-11-20 06:09AM UTC
Crude oil rallied sharply to the upside surpassing 88.65 and settled above it, which open the way for achieving more bullish trend on the intraday and short term basis, where a double bottom formation is completed now by breaching 89.20 level.
The price requires a daily close above the aforementioned level to confirm achieving the pattern’s targets fully located around 94.00, while 88.35 should hold to protect the chances of achieving it.
Expected trading range for today is between: 87.30 support and 93.00 resistance.
Expected trend for today: Bullish
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