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Crude oil price crawls downwards – Analysis - 18-08-2021
Crude oil price made new test to 67.45 level and bounced bearishly from there, to keep the bearish trend scenario valid and active on the intraday and short term basis, organized inside the bearish channel that appears on the chart, waiting to test 65.20 as a first target.
Note that breaking the targeted level will extend the bearish wave to reach 61.55 as a next main station, while the expected decline will remain valid conditioned by the price stability below 67.45 and the most important below 68.05.
The expected trading range for today is between 65.00 support and 67.80 resistance.
The expected trend for today: Bearish
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