Crude Oil needs positive momentum 13/06/2013
Economies.com
2013-06-13 05:41AM UTC
Crude oil price rally stopped yesterday at 96.47, making the trading bounced lower again, affected by Stochastic negativity, and it might visit the channel’s support which carries the last trading.
In general, the bullish bias remains valid and preferred, but we must be aware that a double top formation might be completed in case breaking 94.05, thus, it is important to monitor the price especially when reaching the bullish channel support at 94.80 then 94.05
Expected trading range for today is between 94.05 support and 96.95 resistance.
Expected trend for today: Bullish
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