Crude Oil Midday Report 10/ June /2010

Crude retested 74.15 and head to the upside activating the morning suggested scenario supported by the 100 MA from below. The intraday expectations are to the upside today towards targets starting from 75.75 which requires stability above 73.15.
The trading range for today is among the major support at 72.45 and the major resistance at 76.70.

The general trend is to the downside as far as 79.20 is intact with targets at 61.60.

By: Yasir Mubarak
Main Technical Analyst