Crude oil begins negatively – Analysis - 21-02-2018

Crude oil price opens today’s trading negatively to break 61.40 and settles below it, which puts the price under negative pressure that we expect to push trades to test 60.14 areas before any new attempt to rise.

Therefore, the bearish bias will be suggested in the upcoming sessions unless the price managed to breach 61.40 level and settle above it again, being aware that it is important to monitor the price behavior when reaching the above mentioned target, as breaking it will push the price to achieve more decline that its next target reaches 58.60.

Expected trading range for today is between 60.00 support and 62.65 resistance.

Expected trend for today: Bearish