Crude oil price manged to touch our first waited target at 20.00 and bounced bullishly to test the resistance line that appears on the chart, met by the EMA50 to add more strength to it, noticing that stochastic begins to overlap negatively now.
Therefore, we believe that the chances valid to resume the bearish trend now, noting that our next target reaches 19.00, taking into consideration that the continuation of the bearish wave depends on the price stability below 20.85 and the most important below 21.85.
The expected trading range for today is between 19.00 support and 21.50 resistance.
The expected trend for today: Bearish