Midday update for Crude Oil 27/03/2015

Crude oil price provides slight positive attempts now after hitting 50.00 level this morning, as a signal for resuming the waited bullish trend for today, which is supported by stochastic reach to the overbought levels, and the price needs to breach 51.45 level to get a good positive motive that supports the chances for heading towards our next main target at 54.45.

In general, we will keep our positive expectations for today unless breaking 49.80 level and holding below it, which represents a neckline for a potential double top pattern that mentioned in our morning report.

Expected trading range for today is between 48.90 support and 54.45 resistance.

Expected trend for today: Bullish