Crude oil succeeds to breach – Analysis - 15-02-2019

Crude oil price managed to confirm breaching 54.50 level, as it closed the daily candlestick above it, to complete forming the inverted head and shoulders’ pattern that its signs appear on the chart, waiting to achieve our positive targets that begin at 57.46 and extend to 65.00.

The EMA50 supports the expected bullish wave, noting that breaking 54.50 followed by 53.70 levels will put the price under negative pressure to test 51.46 areas before any new positive attempt.

The expected trading range for today is between 54.00 support and 57.46 resistance.

The expected trend for today: Bullish