Crude oil price Analysis 22-08-2016

Crude oil price upholds the bullish trend again. It is moving within sideways track and gained positive momentum after attempting to breach the 49.00 level. It is highly expected that it will carry on its bullish trend on the short term basis. We can suggest a bullish trend in the next upcoming sessions from these factors.

Trend for today: Bullish

Expected trading range for today is between 47.00 support and 51.65 resistance.

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