Crude is fluctuating around the mentioned morning resistance level that is currently moving to the upside towards 77.40, while the four hour candlestick closing is below it. Morning expectations will remain intact although we might witness some fluctuation due to the positivity of the stochastic before heading towards achieving the awaited bearish targets. We point out that stability below 77.85 is vital to achieve today’s expectations. 
The trading range for today is among the key support around 74.20 and the key resistance around 78.25..The short term trend is to the downside as far as 84.00 remains intact with targets around 61.60.
By: Yasir Mubarak
Senior Technical Analyst
yasir.mubarak@ecpulse.com
www.ecpulse.com