Midday update for Crude oil 17-07-2017

Crude oil price shows slight bearish bias since morning to fluctuate near 46.50  level, and it remains organized within the bullish channel that appears in the image, waiting for surpassing the negative momentum that affects on the price now and getting enough positive momentum to push the trading to continue the main bullish trend.

Therefore, we keep preferring the bullish trend in the upcoming period unless breaking 45.60 level and holding below it, remdining you that our main waited target at 48.37.

Expected trading range for today is between 45.60 support and 48.37 resistance.

Expected trend for today: Bullish