Midday update for Crude Oil 18/12/2014
Economies.com
2014-12-18 11:15AM UTC
Crude oil price rallies to the upside again, targeting the critical resistance located at 59.15, as we mentioned this morning, this level represents a neckline for the bullish technical pattern, which will turn the intraday trading to the upside, which requires being aware in the upcoming trading, reminding you that breaching this level will push the price to visit 64.00 levels mainly.
Therefore, the neutrality is required now in order to monitor crude oil price behavior in the upcoming sessions, especially according to the resistance levels at 59.15 and 56.55 support.
Expected trading range for today is between 53.00 support and 60.00 resistance.
Expected trend for today: Neutral
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