Crude oil price traded with strong negativity to surpass our waited target at 75.65 and reach 73.00$ per barrel barrier, moving within bearish channel that supports the chances of continuing the bearish bias to achieve additional negative targets that reach 72.40 followed by 70.30.
Therefore, the bearish bias will remain dominant in the upcoming sessions, supported by the negative pressure formed by the EMA50, noting that the continuation of the bearish wave depends on the price stability below 75.65.
The expected trading range for today is between 71.50 support and 74.80 resistance.
The expected trend for today: Bearish