Crude oil price keeps its negative stability – Analysis - 07-04-2021

Crude oil price ended yesterday below 59.85 level after the mixed trades that it witnessed in the previous sessions, to keep the bearish trend dominant on the intraday and short term basis, waiting to resume the negative trades that target 57.25 followed by 54.85 levels as next main stations.

The EMA50 supports the suggested bearish wave, which will remain valid unless the price rallied to breach 59.85 followed by 60.90 levels and hold above them.

The expected trading range for today is between 57.80 support and 60.50 resistance.

The expected trend for today: Bearish