Commodities

Midday update for Crude oil 06-08-2020

2020-08-06 09:03:48 GMT (Economies.com)

Crude oil price faces additional negative pressure to approach the EMA50, accompanied by stochastic entering the oversold areas, waiting to motivate the price to resume the expected bullish trend on the intraday and short term basis, which its targets begin by breaching 43.05 to open the way to head towards 45.00 as a next station, reminding you that it is important to hold above 41.05 to continue the suggested rise.

 

The expected trading range for today is between 41.00 support and 43.50 resistance.

The expected trend for today: Bullish

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