Crude oil attempts to return to the channel – Analysis - 01-10-2018
Economies.com
2018-10-01 04:04AM UTC
Crude oil price attempts to return to the main bullish channel that appears on the chart, as it faces solid resistance formed by the broken support of this channel at 73.65, waiting to breach this level to confirm extending the bullish wave towards 74.65 that represents our next main target.
The EMA50 keeps supporting the price from below, to continue suggesting the bullish trend in the upcoming sessions conditioned by the price stability above 71.38.
Expected trading range for today is between 72.50 support and 75.00 resistance.
Expected trend for today: Bullish
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