Crude oil price falls under more negative pressure to start attacking 38.11 level by today’s open, which supports the chances of continuing the bearish bias in the upcoming sessions, on its way to visit the recently recorded low at 37.00 as a next station.
Therefore, we expect witnessing more decline today, supported by the negative pressure formed by the EMA50, reminding you that the continuation of the bearish wave requires holding below 39.15.
The expected trading range for today is between 37.00 support and 39.15 resistance.
The expected trend for today: Bearish