Crude oil surpasses the first target – Analysis - 07-11-2018

Crude oil price managed to break 62.00 level and hold with a daily close below it, which supports the continuation of our bearish overview efficiently in the upcoming sessions, paving the way to head towads more negative targets that extend to reach 60.00 followed by 59.05.

Therefore, the bearish trend will remain dominant on the intraday and short term basis unless breaching 63.40 and the most important 64.43 and hold above them.

Expected trading range for today is between 60.00 support and 63.40 resistance.

Expected trend for today: Bearish