Crude oil price approached from retesting 58.18 level and bounced bearishly from there, to keep the bearish correctional pressure valid until now, waiting to test 55.50 level initially, reminding you that breaking this level will extend the bearish wave to target 53.30 as a next main target.
The EMA50 supports the suggested decline, which will remain valid unless the price managed to breach 58.18 level and hold above it.
Expected trading range for today is between 55.00 support and 58.18 resistance.
Expected trend for today: Bearish