WTI Crude Oil under negative pressure

Crude oil price begins today negatively to settle below 104.60 level, to support the continuation of the expected bearish trend scenario on the intraday and short term basis, which targets 98.95 level as a next negative station, noting that the EMA50 forms negative pressure to support the expected decline.

Stochastic provides negative signals that support the suggested negative scenario, which will remain valid unless the price rallied to breach 104.60 followed by 109.15 levels and hold above them.

The expected trading range for today is between 98.95 support and 107.00 resistance.


The expected trend for today: Bearish