July 26th, Crude oil price bounced upwards clearly after testing 78.25 level in the previous sessions, to breach 78.90 and settles above it again, which supports the continuation of the expected bullish trend for the upcoming period efficiently, waiting to achieve our positive targets that start at 80.00 and extend to 82.00.
The EMA50 continues to support he suggested bullish wave, waiting to gather positive momentum that adds more confirmation to head to achieve the waited targets, taking into consideration that breaking 78.90 followed by 78.25 levels will stop the bullish trend and push the price to achieve some bearish correction.
The expected trading range for today is between 78.00 support and 81.10 resistance.
The expected trend for today: Bullish