CRUDE OIL CHART SHORT TERMThe commodity declined slightly, but still above 105.25 support, and that proves the persistent effect of the bullish butterfly pattern, we may need trading to settle back above 106.00 to support the bullish momentum again over intraday basis, especially that momentum indicators are within overbought areas. Accordingly, we hold onto our morning expectations unchanged.
The trading range for the is expected among the support at 103.35-101 and the resistance at 108.85.
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