Crude oil returns to the channel – Analysis - 12-03-2019
Economies.com
2019-03-12 05:18AM UTC
Crude oil price crawls upwards gradually to move above the main bullish channel’s support line, approaching the key resistance 57.46, waiting to breach this level to confirm the continuaion of the bullish trend on the intraday and short term basis and ease the mission of heading towards our positive targets at 60.00 followed by 64.90.
Therefore, we will continue to suggest the bullish trend supported by the EMA50, conditioned by the price stability above 56.20.
The expected trading range for today is between 56.20 support and 59.00 resistance.
The expected trend for today: Bullish
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