Crude Oil at the upside channel’s support 18/02/2013

Crude oil price suffered strong losses by the end of last Friday’s trading, to stop at the bullish channel support that carries the short term trading, and the stability inside this channel keeps the positive scenario valid, waiting for upside targets starting at 98.20, but you must be aware that Stochastic negativity keeps the bearish pressure valid, which might force the price to begin a bearish correction that its measures appear in the above chart, and it will be confirmed by breaking below 96.10 followed by 95.20.

Expected trading range for today is between: 94.50 support and 99.00 resistance.

Expected trend for today: Bullish