Crude Oil Midday Report 25/ June /2010

Crude is trading within a narrow range since this morning while showing pivotal support which is awaited to be breached 75.75 as it maintains its stance in front of crude’s attempts at descending. The stochastic is still showing negative signs as morning expectations remain intact as we await a clear breach of the mentioned support level.
The trading range for today is among the key support around 74.00 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