Crude oil pushed to the upside, influenced by trading within an ascending minor channel, shown in the image above, which we believe is forming a "flag" pattern; targeting the breach of its support level to continue the downside move that it started from 74.90 levels. Achieve the expected downside move for today requires the minor resistance level at 69.90 to remain intact, where breaching this level to the upside cancels our mentioned flag pattern, which majorly contributes in supporting the downside expectation.
The trading range for today is among the key support at 64.75 and the key resistance at 74.85.
The general trend is to the upside as far as 47.20 remains intact with targets at 85.00.
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