Expected trading range for today is between 40.00 support and 45.00 resistance. Expected trend for today: Bearish

Crude oil price traded with clear negativity to hit our first main target at 43.40, noticing that the price completed forming triple top pattern that appears in the image, which supports the continuation of the bearish trend on the short- term basis, opening the way towards heading to our next main target at 37.73.

 

Breaking 43.40 level will ease achieving the mentioned target, while stochastic current positivity might cause some temporary fluctuation before resuming the suggested decline, which its continuation for today conditioned by holding below 44.15, where breaching this level might push the price to test the critical resistance at 46.85 before any new attempt to decline.

 

Expected trading range for today is between 40.00 support and 45.00 resistance.

 

Expected trend for today: Bearish

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