Due to the effect of the bearish technical pattern appearing on the hourly chart above, crude managed to achieve a strong breach for pivotal support 90.70. Momentum indicators are showing positive signs that will maintain chances of achieving the expected bullish intraday trend intact. Meanwhile, the outlook reversed to a bearish one as we witnessed the four hour close below 80.45.

The trading range for today is among the key support at 79.70 and the key resistance at 83.45.

The general trend is to the upside as far as 65.60 remains intact with targets at 85.00.

Support: 79.80, 79.10, 78.85, 78.00, 77.25
Resistance: 80.70, 81.30, 82.00, 82.70, 83.45
Recommendation: Our morning expectations remain valid.

Ecpulse

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