Crude oil still stuck – Analysis - 14-06-2018
Crude oil price continues to fluctuate between the trend confirmation levels represented by 65.50 support and the resistance line that rises now to 66.95, noticing that there is a contradiction between the positivity of moving above the EMA50 and stochastic negativity.
Therefore, these factors makes us continue with our neutrality until confirming breaching one of the above mentioned levels, as breaching the resistance represents the first key to regain the main bullish trend that its first target located at 69.36, while breaking the support will extend the correctional bearish wave to reach 63.78 and might extend to 61.64 on the near term basis.
Expected trading range for today is between 65.00 support and 68.20 resistance.
Expected trend for today: Depends on the above mentioned levels
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