Midday update for Crude oil 18-10-2018

Crude oil price tests the key support 69.19, hinting the price head to break this level and open the way to extend the bearish wave on the short term basis, and we need to get four hours’ close initially below this level to confirm heading towards the next negative target at 66.85.

Until now, our neutrality still valid until the price confirms breaking the above mentioned support line or breaching 70.66 resistance, noting that the contradiction between stochastic positivity and the EMA50 neagtivity still valid.

Expected trading range for today is between 68.00 support and 71.50 resistance.

Expected trend for today: Depends on the above mentioned levels