Crude oil price affected by the positive pattern – Analysis - 20-02-2020

Crude oil price provided more positive trades yesterday, noticing that the price completed forming double bottom pattern that its signs appear on the chart, which supports achieving more bullish correction on the intraday basis, noting that the next station located at 55.53.

Therefore, the positive scenario will remain suggested in the upcoming sessions unless breaking 53.20 followed by 52.30 levels and holding below them, noting that the EMA50 supports the suggested bullish wave.

The expected trading range for today is between 52.50 support and 55.50 resistance.

The expected trend for today: Bullish