Crude oil price shows sideways and tight trading around the EMA50, and the price keeps its stability below 49.63, which keeps the negative pressure valid until now, waiting to resume the bearish wave that its targets begin by breaking 48.37 level to open the way to head towards 44.10 that represents the next main target.
Therefore, the bullish trend will remain suggested in the upcoming sessions, noting that breaching 49.35 followed by 50.49 levels will push the price to start correctional bullish wave that its targets begin at 51.18 followed by 51.87.
Expected trading range for today is between 47.50 support and 50.49 resistance.
Expected trend for today: Bearish