Crude Oil inside a continuation pattern 18/07/2013

Crude oil price continued its positive trading yesterday, and we notice that the trading is limited inside a continuation symmetrical triangle pattern, which means that breaching its resistance at 106.45 will provide a solid positive motive that supports the continuation of the bullish trend.

Therefore, we continue in preferring the bullish trend on the intraday and short term basis, and the targets begin at 107.15 and extend towards 109.00, while achieving them requires holding above 105.00

Expected trading range for today is between 105.00 support and 108.00 resistance.

Expected trend for today: Bullish