Crude oil price presses on the support – Analysis - 12-04-2019

Crude oil price attempted to break 63.70 level but it managed to close the daily candlestick at this level, to keep the chances valid to resume the main bullish trend, noticing that the EMA50 provides the positive support to the price to protect the suggested bullish trend scenario, accompanied by witnessing positive overlapping signals through stochastic.

Therefore, we will keep our bullish overview that its targets begin by breaching 64.90 level to ease the mission of heading towards our next main target that extends to 67.00, noting that breaking 63.70 followed by 63.10 levels will stop the positive scenario and press on the price to visit 61.00 areas before any new positive attempt.

The expected trading range for today is between 63.00 support and 66.00 resistance.

The expected trend for today: Bullish