Midday update for Crude oil 20-10-2017

Crude oil price pushes negatively on the key support 51.12 and attempts to hold below it, which urges caution from the upcoming trading, as settling below this level will stop the morning suggested positive scenario and push the price to return to the correctional bearish track again, which its next target located at 50.06.

Until now, we will keep our bullish overview unless breaking 51.12 level and holding below it, reminding you that our main targets begin at 52.84 and extend to 55.27 on the near term basis.

Expected trading range for today is between 50.50 support and 53.50 resistance.

Expected trend for today: Bullish