End of day analysis for Crude oil 16-07-2019

Crude oil price faced strong negative pressure to break the bullish channel’s support line and touch 57.33 level direct, noticing that the price begins to rebound bullishly from there, hinting the price head to regain the main bullish trend, and we need to monitor the daily close according to the mentioned level to confirm the next destination clearly, as the price needs to consolidate above this level to recover again and cover the losses that it suffered today.