Update for Crude oil 08-06-2017

Crude oil price shows some slight bullish bias to fluctuate around 46.00 level, as the price is affected by stochastic positivity, while the negative pressure still valid affected by the previously completed head and shoulders' pattern, which supports the chances of heading toward sour next main target at 44.10. 

In general, the bearish bias will remain valid unless breaching 48.37 level and holding above it, supported by the EMA50, being aware that it is important to monitor the price when reaching the targeted level, due to its importance to detect the next destination on the longer term basis. 

Expected trading range for today is between 44.10 support and 47.00 resistance.     

Expected trend for today: Bearish