WTI Crude Oil trades with bearish bias

Crude oil price opens today’s trading with strong decline to break 69.25 level and setels below it, on its way for potential test to 67.45 areas, but we notice that the EMA50 and stochastic provide positive signals that might push the price to recover again.

Therefore, we prefer staying aside until we get clearer signal for the next trend, noting that breaching 69.25 will push reactivate the bullish trend scenario that its next target located at 71.05, while breaking 67.45 will press on the price to achieve additional decline that its first main target reaches 65.20.

The expected trading range for today is between 67.00 support and 70.00 resistance.


The expected trend for today: Neutral