Crude was not able to surpass pivotal resistance that is represented in support for the previously breached bullish channel, trading is stuck below this resistance currently at 79.50, above the retest level for the bullish pattern shown in our previous reports at 78.50. 
Momentum indicators currently stand neutral, which therefore makes usrecommend following up our upcoming reports as we need more assuring signs for the next direction, where the breach of 79.50 paves the way towards returning within the previous bullish direction in a strong manner; whereas building a base below 78.50 holds the keys to pushing crude to the downside initially towards 77.25..The trading range for today is among the key support around 76.15 and the key resistance around 81.70..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