Crude oil tests the critical support – Analysis - 14-12-2017

Crude oil price traded with clear negativity on yesterday's evening to test the key support 56.70 and settles there, accompanied by stochastic move at the oevsold areas, and as long as the price is above the mentioned level, our bullish overview will remain active, waiting to breach 57.30 level to ease the mission of heading towards the first positive target at 59.00.

Therefore, we will keep our positive overview for the upcoming period unless breaking 56.70 level and holding below it, as this break will push the price to extend its bearish correction and test 55.23 areas initially before any new attempt to rise.

Expected trading range for today is between 55.23 support and 59.00 resistance.

Expected trend for today: Bullish