Midday Report

The commodity dipped below the ascending support of the possible bearish pattern-shown on image-to print a low at 102.13 before recovering again to trade steadily above the support. Failure to stabilize below this support forces us to stay aside this morning, as we may see another upside attempt specially that stochastic has crossed over positively and attempting to recover.

The trading range for today is expected among the major support at 100.70 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**

Previous Report

Weekly Report

Support103.00102.40101.75101.00100.60
Resistance103.65104.20105.00105.50106.00
RecommendationBased on the charts and explanations above we recommend staying aside awaiting more confirmation.