Midday update for Crude oil 15-02-2019

Crude oil price shows some bearish bias on its way to retest 54.50 level, and the price needs to hold above this level to keep the positive effect of the inverted head and shoulders’ pattern active, supported by the EMA50, waiting to resume the bullish trend that its next main targets located at 57.46 followed by 65.00, while achieving them requires holding above 54.50 and 53.70.

The expected trading range for today is between 54.00 support and 57.46 resistance.

The expected trend for today: Bullish