Crude oil recovers – Analysis - 09-10-2018
Economies.com
2018-10-09 04:23AM UTC
Crude oil price’s decline stopped at 73.00 areas yesterday, to rebound upwards clearly and return to the main bullish channel again, which stops the correctional bearish scenario and push the price back to the main bullish track, targeting testing 76.88 areas initially.
Therefore, the bullish trend will be suggested again supported by moving above the EMA50, noting that breaking 73.94 will put the price under the correctional bearish pressure again.
Expected trading range for today is between 73.50 support and 76.50 resistance.
Expected trend for today: Bullish
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