Midday update for Crude Oil 22-02-2017

Crude oil price shows bearish bias to approach from the previously breached resistance that turns into support now at 53.80, pointing that holding above this level represents the first protection factor for the continuation of the overall positive scenario, where breaking it will push the price to head towards 52.25 before any new attempt to rise.

Until now, the bullish trend remains preferred in the upcoming sessions conditioned by holding above 53.80, reminding you that our main waited begin at 55.27 and extend to 56.50.

Expected trading range for today is between 53.00 support and 56.50 resistance.

Expected trend for today: Bullish