Crude oil price shows new strong negative trades to surpass the first waited target at 68.10 and breaks it to close the last four hours’ candlestick below it, which supports the expectations of extending the bearish wave to head towards 66.20 as a next negative target.
Therefore, our bearish overview will remain active for today supported by the negative pressure formed by the EMA50, noting that holding below 68.10 represents the first condition to continue the expected decline, as breaching it might push the price to start recovery attempts and head to test 70.55 areas mainly.
The expected trading range for today is between 66.50 support and 68.50 resistance.
The expected trend for today: Bearish