Midday update for Crude Oil 26-08-2016

Crude oil price shows sideways and tight trading since morning settling around the key resistance 47.30, while the price still stuck between the next trend keys represented by the mentioned resistance and 46.60 support, which keeps our neutrality valid until now, waiting to surpass one of these levels to detect its next destination clearly.

The contraction between the EMA50 positivity and stochastic negativity provides another reason for neutrality, and to know more about the expected targets after the breach, please review our previous report.

Expected trading range for today is between 45.00 support and 50.00 resistance.

Expected trend for today: Depends on the above mentioned levels