Midday update for Crude Oil 29/04/2016
Economies.com
2016-04-29 10:49AM UTC
Crude oil price remains stable above the support base that formed above 46.00 level, to keep the positive expectations valid and active for the rest of the day, waiting for visiting 48.40 level mainly, pointing that stochastic provides positive signals within the overbought levels, to reinforce the suggested positive scenario.
In general, the bullish bias will remain valid in the upcoming period if the price settled above 44.00 level, which meets the EMA50 to strengthen it.
Expected trading range for today is between 44.50 support and 48.40 resistance.
Expected trend for today: Bullish
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