Crude oil price begins today with additional rise to test the key resistance 40.80, noticing that the price begins to provide negative trades in attempt to resume the recently suggested bearish trend, supported by the negative signals that appear on stochastic, waiting to head towards our expected targets that start at 37.50 followed by 36.10.
Therefore, the bearish trend scenario will remain valid and active for the upcoming period, noting that breaching 40.80 will lead the price to achieve additional gains that reach 43.05.
The expected trading range for today is between 38.50 support and 42.00 resistance.
The expected trend for today: Bearish