Midday Report

Crude oil gradually inclined since this morning, on its way to touch key resistance level at69.35. We still hold onto our morning expectations, while we await the breach of the mentioned resistance level, targeting 71.10 over intraday basis and then observingoil at thoselevels; whereas, we mightnotice volatility and fluctuations around it,due to the possibility ofbreaching it to continue the upside wave over the short term. The upside remains intactas far as trading remainsabove 67.35.

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.

RecommendationBased on the charts and explanations above our opinion is buying oil with the breach of 69.35 To 71.20 and stop loss below 68.35, might be appropriate