Midday update for Crude Oil 05/02/2016

Crude oil price hovers around the EMA50 since morning, as long as the price below 32.56 level, so we keep preferring the overall bearish trend, which its targets begin at 29.00 and extend to 25.48.

Stochastic positivity explains the reasons of the current fluctuation, reminding you that breaching 32.56 level will lead the price to achieve intraday gains that its main targets reach to 35.13 before any new attempt to decline.

Expected trading range for today is between 29.00 support and 33.00 resistance.

Expected trend for today: Bearish