Midday update for Crude Oil 12/02/2013
Economies.com
2013-02-12 11:06AM UTC
Crude oil is fluctuating in tight range, and the weak volume of trading seems clear since morning, while it settles above the correctional bearish channel resistance that appears in the image.
Until now, our neutral attitude remains valid, waiting for a clear daily close above the resistance which turns into support now at 96.70, and followed by confirming the continuation of the upside rally on the intraday basis and then the short term basis.
Expected trading range for today is between: 93.80 support and 96.95 resistance.
Expected trend for today: Neutral
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