Crude oil price needs the positive momentum – Analysis - 24-04-2019

Crude oil price provides slight negative trades now affected by stochastic negativity, which begins to gather the positive momentum on its way towards the oversold areas, and the price might lean on the key support 64.90 before turning back to rise again.

In general, we will continue to suggest the bullish trend in the upcoming sessions conditioned by the price stability above the above mentioned level, as the price is organized inside the bullish channels that appear on the chart, getting good positive support by the EMA50, reminding you that our next main targets begin at 67.00 and extend to 70.55 on the near term basis.

The expected trading range for today is between 64.90 support and 67.00 resistance.

The expected trend for today: Bullish