Midday update for Crude oil 29-01-2019

Crude oil price trades positively to start testing the EMA50 that forms intraday resistance at 52.55, and the price needs to breach this level to ease the mission of continuing the bullish trend that its main targets begin at 54.40, reminding you that breaching this level will provide strong positive motive that supports the expectations of extending the bullish wave on the short term basis, which its next main target located at 57.46 and extend to 65.00, while holding above 51.46 represents the most important condition to continue the expected rise.

Expected trading range for today is between 51.00 support and 54.40 resistance.

Expected trend for today: Bullish