Oil is fluctuating calmly since this morning around the 50% Fibonacci correction level at 71.15; thus our morning expectations remain as is, as we await a slight downside correction touching 70.25 and then rebounding to the upside, according to our morning report. It is vital that  70.25 remains intact, so that today's expectations will be achieved.

The trading range for today is among the key support at 67.40 and the key resistance at 76.00.

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