Midday update for Crude Oil 10-01-2017

Crude oil price shows slight positive trading since morning in attempt to move away from the main bullish trend line that forms an important support at 51.60, as long as the price above this level, so our bullish trend expectations will remain valid for today, supported by stochastic positivity that appears clearly on the four hours time frame, and the price needs to surpass the EMA50 that forms an intraday resistance at 53.20 to ease the price mission to head towards our main targets that begin at 55.27 and extend to 56.50.

Expected trading range for today is between 51.00 support and 55.27 resistance.

Expected trend for today: Overall Bullish