Crude breached the support for the bullish channel at 74.60 with four-hour closing, although it returned to the upside due to the positive signs from momentum indicators. Trading below the vital support areas starting from 75.20 will maintain our morning expectations intact. Therefore, we still see that the expect more bearishn ess for today as far as crude does not stabilize above 75.75. 
The trading range for today is among the key support around 72.00 and the key resistance around 76.65.
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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
[email protected]
www.ecpulse.com