Expected trading range for today is between 44.00 support and 46.00 resistance. Expected trend for today: Bullish in evening session,

Crude oil price continued its strong rally on last Friday to approach from 46.00$ per barrel barrier, noting that breaching 44.00 level and holding above it is considered as a positive signal that turns the intraday and short term track to the upside, which makes us suggest the continuation of the bullish bias for the upcoming period, and the next target is testing 48.40 level.
The price approaches from testing the above mentioned support base, getting positive support from the EMA50, taking into consideration that breaking 44.00 level and holding below it will form initial negative signal that supports the attempts of the return of the main bearish trend and stop the current positive scenario.
Expected trading range for today is between 44.00 support and 46.00 resistance.
Expected trend for today: Bullish in evening session,

Post Comment