Commodities

Crude oil confirms the breach – Analysis - 14-03-2019

2019-03-14 05:29:48 GMT (Economies.com)

Crude oil price ended yesterday’s trading above 57.46, to confirm breaching this level and opens the way to head towards our main expected targets, which begin at 60.00 followed by 64.90.

 

The bullish channel continues to organize the suggested bullish wave, while the EMA50 provides continuous positive support to the price, to keep the positive effect of the previously completed inverted head and shoulders’ pattern active, taking into consideration that breaking 57.46 level will stop the expected rise and put the price under negative pressure that its main targets reach 54.50.

 

The expected trading range for today is between 57.46 support and 60.50 resistance.

 

The expected trend for today: Bullish

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