Midday update for Crude oil 17-05-2019
Economies.com
2019-05-17 10:40AM UTC
Crude oil price keeps its stability above 62.40 level, to keep the positive scenario valid until now, supported by moving above the EMA50, and the price needs to get enough positive momentum to push trading to resume the bullish wave that targets 65.00 followed by 66.60 levels as next main stations.
We should note that breaking 62.40 will stop the expected rise and press on the price to return to the correctional bearish track again.
The expected trading range for today is between 62.00 support and 65.00 resistance.
The expected trend for today: Bullish
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