Crude is expected to push upwards towards pivotal resistance at 76.60 pointed out earlier, where it represents the neckline for the suggested bullish technical pattern that is currently forming. 
This pattern will assist trading naturally trading within the current upside channel. Presently, we can expect some minor bearish correction due to the negativity of momentum indicators, followed by a bullish rebound where we expect that the direction for this week is bullish in overall; initially targeting 80.20. The MA 50 supports this suggested uptrend, while trading stabilized above 73.85 is vital for the bullish expected trend to prevail.The trading range for today is among the key support around 73.85 and the key resistance around 80.20.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