Crude oil price fluctuates within sideways and tight track since morning, keeping its stability below 58.18 level, therefore, the negative pressure remains valid on the intraday and short term basis, targeting 38.2% Fibonacci correction level at 55.50 as a next main station.
We remind you that monitoring the price behavior when reaching one of the critical levels that represented by 55.50 support and 58.18 resistance, for more details around the expected targets from breaching it, please look at our previous report.
Expected trading range for today is between 55.00 support and 58.50 resistance.
Expected trend for today: Bearish