Crude oil still stuck – Analysis - 13-02-2018

Crude oil price continues to fluctuate between the key levels represented by 58.60 support and 60.14 resistance, to keep our neutrality valid until now, as we are waiting to breach one of these levels to detect the next targets clearly, noting that the contradiction between stochastic positivity and the EMA50 negativity provides another reasons for neutrality.

We remind you that breaching 60.14 will lead the price to start recovery attempts that target 61.40 followed by 62.65 levels initially, while breaking 58.60 will push the price to suffer more losses and head towards 56.08 as a next main station.

Expected trading range for today is between 58.00 support and 61.40 resistance.

Expected trend for today: Depends on the above mentioned levels