Midday update for Crude Oil 22/05/2015
Economies.com
2015-05-22 10:55AM UTC
Crude oil price keeps its stability above the EMA50, to keep the bullish trend scenario valid and active for today, while stochastic attempts to get rid of its negativity and gain enough positive momentum to push the price to resume the bullish trend, which its main targets begin at 62.56.
It is important to note that holding above 58.18 level represents a major condition to continue the suggested bullish trend.
Expected trading range for today is between 59.00 support and 63.00 resistance.
Expected trend for today: Bullish
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