Midday update for Crude oil 07-05-2021

Economies.com
2021-05-07 08:50AM UTC

Crude oil price returns to test the key support 64.35, and the EMA50 continues to protect the mentioned level, while stochastic shows positive signals on the four hours’ time frame.

 

Therefore, these factors keep the chances valid to continue the recently suggested positive scenario, which targets 65.60 followed by 67.95 levels as next main stations, while achieving them requires holding above 64.35.

 

The expected trading range for today is between 63.70 support and 66.60 resistance.

The expected trend for today: Bullish

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