The anticipated upside pullback has started yesterday sending the commodity above 103.00 level;and price has breached the bullish reversal falling wedge pattern hinting we may see further gains for the commodity if the remaining barrier at 103.40 recent swing high was taken. This we anticipate a breach above 103.40 with four-hour closing to expect an extension of the rally probably towards the top of the main descending channel among 105.50-106.00 region.
The trading range for today is expected among the major support at 100.50 and the major resistance at 105.50.
The short-trend trend is to the upside with steady daily closing above 99.60, targeting 116.50.
**New York Candlesticks**
|Recommendation||Based on the charts and explanations above our opinion is buying crude with four-hour closing above 103.40 targeting 104.25 and 105.50. Stop loss hourly closing below 102.50|