Crude oil awaits the confirmation signal – Analysis - 14-02-2018

Crude oil price continues to fluctuate between 58.60 support and 60.14 resistance levels, which represent the next trend keys, as the price needs to surpass one of these levels to detect its next destination clearly, thus, we will continue with our neutrality until we get clearer signal for the next trend.

We remind you that breaching the mentioned resistance will push the price to start recovery attempts that target 61.40 followed by 62.65 levels initially, while breaking the support will push the price to suffer more losses on the short term basis, and the next target wil reach the previously recorded low at 56.08 as a next main station.

Expected trading range for today is between 58.00 support and 61.40 resistance.

Expected trend for today: Depends on the above mentioned levels