Crude Oil attempts to stop the correction 12/02/2013

Crude oil trading settled at the downside correction channel mentioned in our technical reports yesterday at 96.95, to see attempts to activate a bullish continuation flag pattern that was mentioned in our technical messages yesterday.

Now, we need to stop aside temporarily and monitor the daily close according to the mentioned resistance which turns now into resistance at 96.70, as settling above it will provide a first positive signal to stop the abovementioned bearish correction to resume the main upside trend again.

Expected trading range for today is between: 93.80 support and 96.95 resistance.

Expected trend for today: Neutral