Midday Report

Crude was able to breach the mentioned support at 79.30; currently starting to move downwards towards the awaited target at 78.00 – the support levelfor the ascending channel– where it is supposed to keep crude on its normal bullish track. Our morning expectations remain intact, where we await a minor bearish correction then reversing to continue its short term bullish direction, where its primary targets are around 82.50.

The trading range for today is among the key support at 74.90 and the key resistance at 83.10.

The general trend is to the upside as far as 47.20 remains intact with targets at 85.00.

RecommendationOur morning expectations remain valid