Midday update for Crude Oil 19/12/2014

Crude oil price shows some positive attempts after testing the sideways range support mentioned this morning at 54.10, and the price is affected by stochastic positivity, which might push the trading to show some bullish bias.

In general, the sideways range will remain dominant on the intraday basis until the price succeeds to breach one of this range’s lines between 54.10 support and 59.10 resistance, and to get the details of the expected targets after the breach, please review our morning report.

Expected trading range for today is between 52.00 support and 59.10 resistance.

Expected trend for today: Sideways