Midday update for Crude oil 03-04-2020
Crude oil price traded with strong positivity this morning to breach 24.45 followed by 25.55 levels and open the way to head towards more recovery on the intraday and short term basis, making the bullish bias suggested in the upcoming sessions, and the next target represented by testing 27.65, noting that breaching this level will open the way to head towards 30.00 barrier on the near term basis.
On the other hand, note that the positive overview will remain valid unless breaking 25.55 and holding below it, which will press on the price to resume the main bearish trend and head towards 22.70 followed by 20.00 levels mainly.
The expected trading range for today is between 24.00 support and 28.00 resistance.
The expected trend for today: Bullish
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