Crude oil price rallied upwards strongly to succeed touching our first waited target at 69.35, which represents 23.6% Fibonacci correction level for the rise from 58.19 to 72.80, noticing that the price breaks this level to move below it now, which supports extending the bearish wave to reach 67.22 level as a next station.
Therefore, the bearish trend will remain dominant in the upcoming period unless breaching 71.50 level and holding above it.
Expected trading range for today is between 68.00 support and 70.50 resistance.
Expected trend for today: Bearish