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Crude oil price resumed its positive trades to move away from 76.10 level, reinforcing the expectations of continuing the bullish trend on the intraday and short-term basis, waiting to visit 78.00 followed by 78.90 levels that represent our next main targets.
The bullish channel organizes the expected bullish wave, which gets good support by the EMA50, noting that breaking 76.10 will stop the bullish trend and push the price to turn to decline, to target 74.95 followed by 73.80 areas as main negative stations.
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The expected trading range for today is between 75.50 support and 78.90 resistance.
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The expected trend for today: Bullish
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