Midday update for Crude oil 06-12-2017
Economies.com
2017-12-06 10:42AM UTC
Crude oil price is testing the bullish pennant pattern's support that appears on the above chart, while stochastic moves at the oversold areas again, waiting to motivate the price to rebound bullishly and test 58.00 initially, which forms the key to rally towards our positive targets that start at 60.00 and extend to 62.00.
In general, we will continue to suggest the bullish trend for today unless we witnessed clear break and hold with a daily close below 56.75.
Expected trading range for today is between 56.40 support and 60.00 resistance.
Expected trend for today: Bullish
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