Oil Awaits Further Rise
The price of oil (US/OIL) is receiving a positive boost from the 50-day moving average, continuing to fluctuate positively around the level of 60.50, supporting our expectation of the continued upward trend. Today's trading expectations for oil are as follows:
Today's Trading Expectations:
Stop Loss: 59.80
Target 1: 61.00
Target 2: 61.50
Expected Trading Range: Between Support 59.80 and Resistance 62.00
General Expected Trend for Today: Upward
Do you expect the positive trading to continue or a downward correction to occur? Share your opinion in the comments!
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