Crude oil price provides negative trades now, to press on the bullish channel’s support line, which urges caution from the upcoming trading, as the continuation of the negative pressure and breaking 70.70 will put the price under correctional bearish pressure that its targets begin at 69.35 and extend to 67.85, while the price needs to surpass 71.45 to reactivate positive scenario that its targets begin at 72.20 and extend to 74.00.
Therefore, we prefer staying aside temporarily until we get clearer signal for the next trend through surpassing one of the above mentioned levels.
The expected trading range for today is between 69.35 support and 72.20 resistance.
The expected trend for today: Depends on the above mentioned levels