Crude Oil retests 01/07/2013
Economies.com
2013-07-01 05:19AM UTC
Crude oil price decline to retest the previously breached neckline of the double bottom formation at 96.20, as the EMA50 meets with this line to add more strength to it.
Therefore, we think that the positive effect of the pattern will remain valid and active, waiting to resume the bullish trend to target 97.30 initially and then to open the door to visit 100.00 barrier.
Expected trading range for today is between 95.00 support and 98.50 resistance.
Expected trend for today: Bullish
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