Crude oil price ended yesterday below 58.00 level, which support the expectations of continuing the domination of the correctional bearish trend, reminding you that the next target reaches 54.83, which represents 38.2% Fibonacci correction level for the rise from 33.61 to 67.95.
The EMA50 supports the suggested negative scenario, which will remain valid unless the price rallied to breach 59.20 and hold above it.
The expected trading range for today is between 56.00 support and 59.20 resistance.
The expected trend for today: Bearish