Mid-day report

The crude oil price returned to trade below the breached neckline level at 72.00 and below correction level 61.8% -71.85- while negative pressure appears on the stochastic. We still hold onto our morning expectations; pointing to achieving an upside on an intraday basis, shown in details in our morning report, while chances of attempting some fluctuations, all the while collecting the required positive momentum to support the resume of the expected upside for today. Chances of continuing the upside will prevail, as long as level 69.60 remain intact.

The trading range for today is among the key support at 67.75 and the key resistance at 76.60.

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

Support70.0069.6069.0067.6566.70
Resistance71.8572.6073.0074.1074.90
RecommendationOur morning expectation remains valid.