Midday update for Crude oil 16-09-2020

Crude oil price shows more rise to surpass 39.00 barrier and approaches our first waited positive target at 40.00, which supports the continuation of the expected bullish trend scenario for the upcoming period, noting that surpassing 40.00 followed 40.60 levels will extend the bullish wave to reach 41.85 on the near term basis, while the expected rise will remain valid conditioned by the price stability above 38.42 and 38.10.

The expected trading range for today is between 37.50 support and 40.60 resistance.

The expected trend for today: Bullish