Midday update for Crude oil 13-11-2017

Crude oil price shows some slight bearish bias now on its way to test the key support 56.40, which urges caution from the upcoming trading, as breaking this level will push the price to achieve more decline on the intraday basis and test areas that begin at 55.20 and might extend to 54.60 before any new attempt to rise.

In general, we will keep our positive overview for today conditioned by holding above 56.40, reminding you that the waited targets begin at 59.40 and extend to 60.65 after breaching the previous level.

Expected trading range for today is between 56.00 support and 59.00 resistance.

Expected trend for today: Bullish