Crude Oil Daily Technical Outlook

Intraday outlook in crude oil remains neutral for the moment as it's still staying in range of 69.70/73.36. Note that on the downside, Below 69.70 will turn intraday bias to the downside for deeper pull back. But after all, we'd expect downside to be contained above 62.70 and bring another rise that eventually send crude oil above 73.38 level. On the upside, sustained break of 73.36/38 key resistance level (100% projection of 58.32 to 68.99 from 62.7 at 73.36) will confirm rally resumption towards 38.2% retracement of 147.27 to 33.2 at 76.77. In the bigger picture.....Complete Article