Crude oil price’s rise stopped at 76.00 barrier, to start declining again, and attempts to return to the intraday bearish channel that appears on the chart, which makes us suggest witnessing more decline in the upcoming sessions, noting that the next main target is located at 73.30.
Breaking 74.15 will ease the mission of achieving the mentioned target, while breaching 75.55 will stop the expected decline and lead the price to regain the main bullish trend again.
The expected trading range for today is between 73.00 support and 76.00 resistance.
The expected trend for today: Bearish