Technical Analysis: Midday update for Crude oil on July 27th

July 27th, Crude oil price shows weak trades since morning, settling around 79.70, waiting to resume the expected bullish trend for the upcoming period, which moves inside the bullish channel that appears on the chart, reminding you that we are waiting to visit 80.00 followed by 82.00.

Holding above 78.90 and 78.25 levels is important to continue the suggested bullish wave, as breaking it will push the price to turn to decline and head towards 77.35 and might extend to 76.10 before any new attempt to rise.

The expected trading range for today is between 78.25 support and 81.50 resistance.

The expected trend for today: Bullish