Midday update for Crude oil 28-07-2017
Economies.com
2017-07-28 11:17AM UTC
Crude oil price shows sideways trading since morning settling around 49.00 level, while stochastic begins the attempts to get rid of the negative momentum to gain enough positive momentum to push the price to continue the main bullish trend.
Therefore, we will continue to suggest the bullish trend in the upcoming period unless breaking 48.37 followed by 47.30 levels and holding below them, noting that the waited targets reach to 50.00 followed by 52.50.
Expected trading range for today is between 47.30 support and 51.00 resistance.
Expected trend for today: Bullish
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