Midday update for Crude Oil 29-03-2017

Crude oil price achieved an initial breach to the mentioned falling wedge’s resistance and attempts to settle above it, which supports the continuation of the expected bullish trend scenario for today efficiently, waiting for more of the upside moves to visit 50.70 level mainly.

Therefore, the positive expectations will remain valid in the upcoming sessions unless breaking 48.37 level and holding below it, where breaking it will push the price to resume the bearish correctional track that its next main target located at 44.10.

Expected trading range for today is between 47.00 support and 50.70 resistance.

Expected trend for today: Bullish