Crude oil price fluctuates within tight track since morning and keeps its stability below the bearish flag’s support line, to keep the negative effect of this pattern active, noticing that stochastic overlaps negatively now, to support the expetations of continuing the bearish trend in the upcoming period, as our next target is located at 49.10, while achieving it conditions holding below 53.40.
Expected trading range for today is between 50.00 support and 53.40 resistance.
Expected trend for today: Bearish