Midday update for Crude Oil 01-07-2016
Economies.com
2016-07-01 10:54AM UTC
Crude oil price shows negative trading now to move below the EMA50, while stochastic moves at the oversold levels to provide positive factor that we wait to push the price to resume the upside track again.
In general, we keep preferring the overall bullish trend if the price settled above 45.61 level, waiting for testing 51.65 level initially, reminding you that breaking 45.61 level will put the price under the bearish correctional pressure again, and its next target located at 41.87.
Expected trading range for today is between 47.00 support and 51.65 resistance.
Expected trend for today: Bullish
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