Midday update for Crude Oil 14-02-2017
Economies.com
2017-02-14 11:56AM UTC
Crude oil price trades with calm positivity since morning to move away from the EMA50, heading towards the bullish pennant's resistance located now at 53.95, waiting to breach this level to activate the positive effect of the mentioned pattern followed by rallying towards our positive targets that start at 55.27 followed by 56.50.
Therefore, the bullish trend scenario will remain valid efficiently in the upcoming sessions unless breaking 51.85 level and holding below it.
Expected trading range for today is between 51.85 support and 55.27 resistance.
Expected trend for today: Bullish
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