Expected trading range for today is between 42.00 support and 46.00 resistance. Expected trend for today: Bearish

Crude oil price tested the EMA50 and bounced lower from there, noticing that stochastic provides negative overlapping signal on the four hours time frame, which supports the continuation of our bearish trend expectations efficiently in the upcoming period, waiting for breaking 44.10 then 43.37 levels to confirm the continuation of the bearish wave to 37.73.

 

We remind you that the continuation of the suggested bearish trend depends on the stability below 46.85 level, where breaching this level will lead the price to achieve gains that reach to 49.70 before the return to the downside again.

 

Expected trading range for today is between 42.00 support and 46.00 resistance.

 

Expected trend for today: Bearish

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