Oil loses momentum below 91

Crude oil price fluctuates around the EMA50, and still below the broken support of the bullish channel, to keep the correctional bearish scenario valid for the upcoming period, supported by stochastic loss to the positive momentum, waiting to visit 86.75 that represents our next main target.

On the other hand, we should note that breaching 91.45 and holding above it will stop the expected decline and push the price back to the main bullish track.

The expected trading range for today is between 88.00 support and 90.90 resistance.


The expected trend for today: Bearish