Crude surpassed the gap from this morning to retest the previously breached neckline around 71.60. Morning expectations remain intact shown in our weekly report, where a bearish trend is expected in overall; targets start aroun d 69.15 and require stability below 72.45 to prevail.
The trading range for today is among the key support around 69.15 and the key resistance around 72.45.Crude Oil Midday Report 07/6/2010
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The short term trend is to the downside as far as 79.20 remains intact with targets around 61.60.
By: Yasir Mubarak
Main Technical Analyst
yasir.mubarak@ecpulse.com
www.ecpulse.com