Midday update for Crude oil 21-07-2017

Crude oil price resumes its positive trading to start new attempts to breach 47.30 level, waiting to get four hours' close initially above this level to confirm the continuation of the bullish bias for the rest of the day, noting that stochastic begins to provide positive overlapping signal on the four hours' time frame.

Therefore, we believe that the chances are valid to continue the rise in the upcoming sessions conditioned by holding above 46.30 level, reminding you that our waited targets begin at 48.37 and extend to 50.00 followed by 52.50.

Expected trading range for today is between 45.80 support and 49.00 resistance.

Expected trend for today: Bullish