Mid-day report

Crude oil price inclined to breach the neckline, shown this morning at 68.95, achieving a four hour close above it; supporting morning expectations. From here we hold onto our morning expectations; waiting to continue an intraday incline to target level 70.40. It is vital that trading remain above level 67.35, as a main point to continue the expected upside for today.

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.