Crude oil price tested 57.42 level without breaking it, and it returns to fluctuate near the EMA50, noticing that stochastic loses its positive momentum clearly to reach the thresholds of the overbought levels, which forms a negative motive that we wait to assist to push the price to break the mentioned level then opens the way towards our next target at 54.60.
Therefore, our bearish trend expectations will remain valid for today, conditioned by holding below 59.00.
The expected trading range for today is between 56.50 support and 59.50 resistance.
The expected trend for today: Bearish