Midday update for Crude Oil 30/03/2015

Crude oil price fluctuates at the critical support at 47.55, as we mentioned this morning that this level represents one of the next trend keys besides 49.65 resistance, where the price needs to breach one of them to detect its next trend clearly.

Therefore, our neutral attitude remains valid until now, reminding you that breaking the mentioned support will extend the bearish wave to target 44.00 as a first main station, while breaching the resistance will allow the price to regain its bullish track, which stopped with the last weekend, then targeting levels that begin a 52.45 mainly.

Expected trading range for today is between 46.00 support and 50.00 resistance.

Expected trend for today: Neutral