Evening update for Crude oil price 05-12-2022

Crude oil price bounced downwards strongly after approaching our waited target at 83.27, to break 81.00 followed by 79.50 levels and heads towards potential return to the main bearish trend, on its way to achieve negative targets that start by surpassing 78.20 to open the way to rally towards 76.30 areas, taking into consideration that breaching 81.00 will stop the current negative pressure and lead the price to resume the correctional bearish track again.