Crude is trading within a very narrow range since this morning, where it did not set lower than 78.20 since this morning's report. We still hold onto our morning expectations, where we await a bullish direction over intraday basis for today, which will strongly start after the breach of 78.60. The bullish direction requires 77.40 to remain intact with four-hour closing.
The trading range for today is among the key support at 76.25 and the key resistance at 81.10.
The general trend is to the upside as far as 47.20 remains intact with targets at 85.00.
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