Crude oil price bounced bearishly after retesting 67.40 level yesterday, to keep the bearish trend dominant on the intraday and short term basis, waiting for more decline that its next target located at 64.43.
The EMA50 keeps pressing negatively on the price to support the expectations of continuing the bearish bias in the upcoming period, noting that holding below 67.40 is important to achieve the suggested targets.
Expected trading range for today is between 64.50 support and 67.50 resistance.
Expected trend for today: Bearish