Crude oil price settles below 51.00 level, as the EMA50 keeps pushing negatively on the price, while stochastic provides clear negative signal on the intraday time frames, which supports the chances of continuing the bearish bias in the upcoming sessions.
Therefore, the bearish trend will remain suggested for today, and the main target is represented by testing 48.37 level, noting that breaching 52.55 will stop the current negative pressure and lead the price to regain its main bullish track again.
Expected trading range for today is between 48.37 support and 52.00 resistance.
Expected trend for today: Bearish