Midday update for Crude oil 16-01-2018
Economies.com
2018-01-16 11:47AM UTC
Crude oil price makes new test to the intraday bullish channel’s support and it remains above it, accompanied with stochastic reach to the thresholds of the oversold levels, while the price gets continuous positive support from the EMA50.
Therefore, we will keep our bullish trend expectations for the rest of the day unless breaking 63.60 and holding below it, pointing that breaching 64.65 is required to ease the mission for heading to our next target at 66.75.
Expected trading range for today is between 63.20 support and 66.75 resistance.
Expected trend for today: Bullish
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