Crude oil price breaks the support – Analysis - 01-04-2021
Economies.com
2021-04-01 04:26AM UTC
Crude oil price broke 59.85 support line strongly and closed the daily candlestick below it, to reactivate the correctional bearish trend scenario again, paving the way to achieve negative targets that start at 57.25 and extend to 54.85.
Therefore, we expect witnessing more decline in the upcoming sessions, organized inside the bearish channel that appears on the chart, noting that breaching 59.85 will stop the current negative pressure and lead the price to start new recovery attempts.
The expected trading range for today is between 57.60 support and 60.50 resistance.
The expected trend for today: Bearish
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