Crude oil price attempted to breach the bearish channel’s resistance but it settles below it now, keeping the bearish trend scenario valid and active for today, supported by stochastic negativity, waiting for visiting 54.47 level as an initial main station, being aware that braeching 57.33 will stop the expected decline and pushes the price to achieve more of the gains on the intraday and short term basis.
The expected trading range for today is between 54.47 support and 57.33 resistance.
The expected trend for today: Bearish