Midday update for Crude oil 14-12-2017

Crude oil price pushes negatively on the critical support 56.70 to move below it now, which urges caution from the upcoming trades, as settling below this level will stop the recently suggested positive scenario and push the price for more bearish correction on the short term basis.

Therefore, we prefer staying aside now in order to monitor the daily candlestick according to the mentioned level, noting that confirming the break will push the price towards 55.23 as a next station, while stepping above it will lead the price to resume its main bullish track that its first target located at 59.00.

Expected trading range for today is between 55.23 support and 59.00 resistance.

Expected trend for today: Neutral