Crude oil resumes rising – Analysis - 09-01-2019

2019-01-09 05:17:39 GMT (Economies.com)
Crude oil resumes rising – Analysis - 09-01-2019
 

Crude oil price begins today’s trading with clear rise to surpass 50.00$ per barrel barrier, reinforcing the expectations of continuing the bullish trend on the intraday basis, approaching our main waited target at 51.46.

 

It is important to monitor the price behavior when reaching the targeted level, especially that stochastic shows overbought signals now, which might cause a bearish rebound and return to resume the main bearish trend again, taking into consideration that breaking 49.40 will stop the expected rise and push the price to test 47.00 initially.

 

Expected trading range for today is between 49.40 support and 52.00 resistance.

 

Expected trend for today: Bullish

 
 
  Symbol Last Change Chg.%
1.1364
-0.0099
0.8667%
1.2874
0.0017
0.1357%
15.340
-0.258
1.651%
53.837
2.217
4.296%
62.70
1.52
2.48%
1281.360
-6.400
0.497%
 
 
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