Mid-day report

Crude oil inclined to breach the minor resistance level, mentioned in our morning report, at 68.75; to open the way to support the intraday incline expected for today, where we await the upside to continue to target 71.50. Stochastic entering overbought areas, could make us witness some mixed fluctuationsfor oilaround the breached resistance level, before resuming its upside journey. Trades remaining above 67.10 is vital for oil to continue the upside move.

The trading range for today is among the key support at 65.00 and the key resistance at 73.15.

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

RecommendationOur morning expectation remains valid