Midday update for Crude oil 20-02-2018

Crude oil price shows negative trading now to move below the intraday bullish trend line, which might push the price to test the critical support at 61.40 before it returns to rise again, noticing that stochastic surpasses its negativity clearly, to approach from the oversold levels, forming positive motive that we wait to push the price to resume the main bullish trend.

Therefore, we will keep our bullish trend expectations for today unless breaking 61.40 level and holding below it, pointing that breaching 62.65 is required for confirming the extension of the bullish wave to 64.20.

Expected trading range for today is between 61.00 support and 64.20 resistance.

Expected trend for today: Bullish