Midday update for Crude Oil 27/04/2015

Crude oil price trading confined within tight range since morning, the price remains confined between the confirmation levels represented by 56.50 resistance and 58.75 resistance, which makes us remain neutral until now, and the price needs to breach one of the mentioned levels to detect its next trend.

We remind you that the mentioned support will push the price to retest 54.45 level mainly, while breaching the resistance will lead the price to resume the main bullish trend without the need to the suggested retesting process.

Expected trading range for today is between 54.45 support and 59.00 resistance.

Expected trend for today: Depends on the above mentioned levels