Crude Oil got stuck 06/06/2013

Crude oil price is stuck between the falling wedge’s resistance that declines now towards 94.15 and the previously breached resistance which turns into support at 93.30, which makes us need to monitor the price behavior according to the mentioned levels, where breaching the mentioned resistance will activate the positive effect of the wedge pattern, leading to target mainly the psychological barrier areas 100.00, while breaking below the support will turn the negative pressure back on the intraday trading again, and the price might visit 90.80 on the near basis.

Expected trading range for today is between 92.00 support and 95.95 resistance.

Expected trend for today: Depends on the abovementioned levels