Midday update for Crude Oil 29/07/2015

Stochastic begins to overlap negatively on the four hours’ time frame, which keeps our bearish trend expectations valid efficiently for today, reminding you with our next main target located at 44.00.

Holding below 48.40 and 48.90 levels represent a main condition to achieve the waited targets, while breaching these levels will push Crude oil price to achieve positive gains that start at 51.10 and might extend to 53.30 on the near term basis.

Expected trading range for today is between 45.00 support and 48.90 resistance.

Expected trend for today: Bearish