Crude oil price begins negatively – Analysis - 25-03-2021
Economies.com
2021-03-25 05:17AM UTC
Crude oil price’s bullish rally stopped at 61.30 level, and starts today with clear decline to start pressing on 59.85 level, which hints the price head to resume the correctional bearish trend, supported by the negative pressure formed by the EMA50, besides the negative overlapping signal provided by stochastic now.
Therefore, we expect witnessing more decline today, which its next target located at 57.35, taking into consideration that failing to break 59.85 will stop the negative scenario and lead the price to return to the main bullish track again.
The expected trading range for today is between 58.30 support and 61.30 resistance.
The expected trend for today: Bearish
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