Midday update for Crude oil 14-02-2018

Crude oil price pushes negatively on the key support 58.60 in attempt to break it, hinting the price head to resume the bearish trend on the short term basis, but we need a confirmed break to the mentioned level to open the way to head towards 56.08 as a next target.

On the other hand, breaching 60.14 will stop the current negative pressure and push the price to achieve gains that start at 61.40 followed by 62.65.

Therefore, our neutrality will remain valid until the price confirms breaching one of the above mentioned key levels.

Expected trading range for today is between 58.00 support and 61.40 resistance.

Expected trend for today: Depends on the above mentioned levels