Midday update for Crude Oil 23/01/2015
Economies.com
2015-01-23 11:36AM UTC
Crude oil price made a new test to the sideways range at 46.70, while stochastic attempts to provide positive overlapping signal on the intraday time frames, to keep the chances of resuming the bullish trend in the upcoming session, reminding you that the first main target represented by breaching 49.65 level to confirm the continuation of the bullish bias.
Breaking 46.70 level and holding below it will stop the positive scenario and pushes oil price to decline again.
Expected trading range for today is between 45.50 support and 49.65 resistance.
Expected trend for today: Bullish
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