Midday update for Crude Oil 22/07/2014
Economies.com
2014-07-22 10:47AM UTC
Crude oil price breached above 103.00 level, to activate the positive effect of the inverted head and shoulders pattern that appears in the above chart, which encourages us to prefer the bullish trend in the upcoming period, and the targets begin by a breach attempt to 104.15 level to confirm the extension of the gains towards 107.00.
The positive expectations remain valid unless breaking 101.50 level and holding below it.
Expected trading range for today is between 101.50 support and 104.00 resistance.
Expected trend for today: Bullish for the rest of the day
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