Crude oil price continues to fluctuate around 59.85 and keeps its stability below it, as the EMA50 meets this resistance to add more strength to it, while stochastic shows overbought signals now.
Therefore, we believe that the chances valid to resume the expected bearish trend on the intraday and short term basis, which its targets begin at 57.25 and extend to 54.85, while achieving them requires holding below 59.85 and 60.25 levels.
The expected trading range for today is between 58.00 support and 60.70 resistance.
The expected trend for today: Bearish