Crude Oil is back to the channel 20/02/2013

Crude oil succeeded to turn back again to the bullish channel, to reinforce our positive expectations on the intraday and short term basis, waiting for breaching above 98.20 to add more confirmation on the waited rising.

In general, we are waiting for ascending targets that mainly begin at the psychological barrier 100.00, and we remind you that breaking below 95.20 will open the gate for more bearish correction and its initial target at 93.25

Expected trading range for today is between: 95.20 support and 100.00 resistance.

Expected trend for today: Bullish