Morning Report

Volatile trading continues to be capped below the main descending resistance colored in pink. While stochastic is approaching overbought areas and RSI lacks the bullish momentum. What worries us now is stability above the 20, 50 and 100 Exponential moving averages, however, we will hold onto our bearish expectations counting on steady trading below 107.60 and 108.15.

The trading range for today is among the major support at 103.90 and the major resistance at 110.15.

The short-terd trend is to the upside with steady daily closing above 99.60, targeting 116.50.

**New York Candlesticks**

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling crude around 107.00 and take profit at 106.45,105.25 and 104.80 . Stop loss with four-hour closing above 108.15 might be appropriate.