Midday update for Crude oil 16-02-2021
Economies.com
2021-02-16 10:33AM UTC
Crude oil price faces negative pressure to test the key support 59.65, and as we mentioned this morning, the price needs to hold above this level to keep the positive scenario active for today, as breaking it will force the price to continue the decline and visit 58.60 level before any new positive attempt.
Stochastic shows positive signals that support the chances of resuming the expected bullish trend for today, reminding you that our next main target extends to 63.35.
The expected trading range for today is between 59.00 support and 62.00 resistance.
The expected trend for today: Bullish
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