Crude oil price shows bearish bias to surpass the EMA50 and settles below it, reinforcing the expectations for the bearish trend continuation on the intraday and short- term basis, opening the way towards resuming the main bearish track that its next main target at 25.48.
The price needs to break 29.60 level to get negative motive that supports the expectations to decline, as its continuation conditioned by holding below 32.56 level, where breaching this level represents the key for heading towards testing 35.13 again.
Expected trading range for today is between 29.00 support and 33.00 resistance.
Expected trend for today: Bearish