Crude oil tests the support – Analysis - 03-09-2018
Economies.com
2018-09-03 04:19AM UTC
Crude oil price tests the key support 69.44 and keeps its stability above it until now, accompanied by stochastic reach to the oversold areas, while the EMA50 keeps providing the positive support to the price.
Therefore, these factors encourage us to continue suggesting the bullish trend in the upcoming period, which its main targets begin at 70.82 and extend to 72.53, noting that breaking 69.44 will push the price to test 68.06 level initially before any new attempt to rise.
Expected trading range for today is between 68.50 support and 71.50 resistance.
Expected trend for today: Bullish
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