Crude Oil leaves the correctional channel 13/02/2013
Economies.com
2013-02-13 06:04AM UTC
Crude oil managed to confirm breaching above the correctional bearish channel resistance to rally higher heading towards the previously achieved top at 98.20, supported by Stochastic positivity.
Breaching above the mentioned level will confirm the total cancelation of the bearish correction that was started in the beginning of the current month, which will lead the price to resume its main bullish trend inside the bullish channel that appears in the image.
Now, the bullish trend will be preferred for today unless 96.50 was broken.
Expected trading range for today is between: 96.50 support and 99.50 resistance.
Expected trend for today: Bullish
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