Crude oil price opened today with clear negativity to break 119.35 and settles below it, and by taking a deeper look at the chart, we find that the price completed forming rising wedge pattern that puts the price under expected negative pressure in the upcoming sessions, targeting 117.10 followed by 115.70 levels as initial negative stations.
Therefore, the bullish bias will be suggested for today, taking into consideration that breaching 119.35 will stop the expected decline and lead the price to resume the main bullish trend again.
The expected trading range for today is between 116.00 support and 120.50 resistance.
The expected trend for today: Bearish