Morning Report

The commodity declined sharply yesterday, however it rebounded quickly to close the four-hour candle above the 20,50 and 100 EMA. Trading below the main descending resistance colored in pink maintains the bearish possibilities; meanwhile, we need a four-hour closing below 106.45 to support our negative expectations.

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**

Previous Report

Weekly Report

Support106.45105.90105.25104.75104.40
Resistance107.00107.60108.00108.85109.40
RecommendationBased on the charts and explanations above our opinion is selling crude with four-hour closing below 106.45 targeting 105.90,104.80 and 103.90. Stop loss four-hour closing above 107.00