Crude oil rises calmly – Analysis - 19-07-2017

Crude oil price provided positive trading yesterday and returns to settle near the EMA50, which continues to protect the recently suggested positive scenario, as it provides positive support to the price, to keep trading organized inside the bullish channel that appears on chart, waiting to resume the bullish trend that targets 48.37 level as a next main station.

Holding above 45.60 represents initial condition to continue the expected rise, as breaking it will push the price to test the key support 44.10 before any new attempt to rise.

Expected trading range for today is between 45.00 support and 48.37 resistance.

Expected trend for today: Bullish