Midday update for Crude Oil 25-07-2016

Crude oil price shows slight negative trading since morning to move below 44.00 level, as the price continues to approach gradually from our first main waited target at 43.45, which breaking it represents the key to confirm extending the bearish wave to test 38.2% Fibonacci level at 41.87.

The EMA50 supports the expectations to decline, which will remain valid and active for today unless breaching 45.61 level and holding above it.

Expected trading range for today is between 41.87 support and 45.61 resistance.

Expected trend for today: Bearish