Crude oil hits the waited initial correction level at 95.20, and bounces to the upside sharply to remain stuck between the previously broken bullish trend support which turns into resistance now at 98.00 and the mentioned correction level.
Overall, as long as the price is below 98.00, the correctional bearish scenario will remain valid, pointing that breaking below 95.20 will open the way for targeting 93.25, while breaching above 98.00 barrier will turn the price back to the bullish track again.
Expected trading range for today is between: 93.80 support and 98.00 resistance.
Expected trend for today: Bearish