End of day analysis for Crude Oil 20-03-2017

Crude oil price succeeded to break 48.37 level and closed the daily candlestick below it, to add more confirmation to the continuation of the bearish trend on the intraday and short term basis, as the EMA50 continues to push negatively on the price, to support the chances of heading towards our next target at 44.10.

The price might be forced for some temporary sideways fluctuation affected by stochastic positivity, noting that the continuation of the expected bearish trend depends on holding below 50.70.