Midday update for Crude Oil 09/05/2016

Crude oil price fluctuates within sideways and tight track since morning near the key resistance 46.05, which represents one of the next trend keys besides 43.20 support, and as we mentioned this morning, the price needs to breach one of these levels to detect its next destination clearly, which makes us continue with our neutrality until now.

For more details about the expected targets after the breach, please review our morning report, noting that the contradiction between the EMA50 positivity and stochastic negativity offers another reason for neutrality.

Expected trading range for today is between 43.00 support and 48.00 resistance.

Expected trend for today: Depends on the above mentioned levels