Monday, 15 August 2016

Crude oil

Crude oil price provided some positive trading this morning in attempt to move away from the breached bearish channel’s resistance, to keep moving within the intraday bullish channel that appears in the image, and the price gets positive support from the EMA50.

Therefore, our bullish trend expectations will remain valid and active for today, and the first target at 45.61, reminding you that the continuation of the expected rise depends on the stability above 43.00 and the most important above 41.87.

Expected trading range for today is between 41.87 support and 46.00 resistance.

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