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July 28th, Crude oil price touched the bullish channel’s resistance line and shows some slight bearish bias now, noticing that stochastic gathers the positive momentum gradually, waiting to motivate the price to resume the expected bullish trend for the upcoming period, which its next target reaches 82.00.
The EMA50 continues to support the price from below to support the continuation of the expected bullish trend, reminding you that it is important to hold above 78.90 and 78.25 levels to achieve the waited targets.
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The expected trading range for today is between 78.70 support and 81.70 resistance.
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The expected trend for today: Bullish
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