Crude oil price confirms the break – Analysis - 02-12-2020

Crude oil price managed to confirm breaking 44.70 level after closing the daily candlestick below it, which supports the continuation of our bearish overview efficiently for the upcoming sessions, and the way is open to achieve our waited negative target at 43.25, noting that breaking this level will extend the correctional bearish wave to reach 41.40.

Therefore, the bearish bias will remain suggested on the intraday basis unless the price rallied to breach 44.70 followed by 45.65 levels and holding above them.

The expected trading range for today is between 42.50 support and 45.20 resistance.

The expected trend for today: Bearish