Crude touched the awaited resistance level at 77.00 as it starts to achieve some downside movement. The stochastic also has started its bearish trend, thus supporting morning expectations. We still expect a bearish trend over an intraday basis towards the mentioned targets in our morning report, while building a base below 77.60 to insure chances of achieving the scenario. 
The trading range for today is among the key support around 74.20 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
[email protected]
www.ecpulse.com