Crude oil returns to test the support – Analysis - 11-07-2018

Crude oil price shows bearish bias now to approach testing 72.89 level again, accompanied by stochastic reach to the oversold areas, noticing that the EMA50 keeps supporting the price from below.

Therefore, these factors encourage us to continue suggesting the bullish trend on the intraday and short term basis, noting that our next target rises to 76.80, while achieving it conditions holding above 72.89.

Expected trading range for today is between 72.50 support and 75.50 resistance.

Expected trend for today: Bullish