Crude inclined, touching 50% Fibonacci correctional level that has turned into resistance after it has previously been breached, but will lead to a quick descend to trade once again within the mentioned bearish channel in yesterday’s reports below 61.8% Fibonacci. 
Therefore, the suggested bearish trend scenario will remain intact, where a bearish intraday direction is expected; targeting 69.50 mainly that require the daily closing below 73.00 to prevail.
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The trading range for today is among the key support around 69.50 and the key resistance around 73.55.
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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