Crude oil price opens today with clear negativity to move away from 75.53$ level, reinforcing the expectations of continuing the bearish correction in the upcoming sessions, affected by the previously completed head and shoulders’ pattern, waiting to test 73.90$ as a next target, noting that breaking this level will push the price towards 72.30$ direct.

 

The EMA50 continues to support the suggested bearish wave, which will remain valid conditioned by the price stability below 75.53$.

 

The expected trading range for today is between 73.30$ support and 76.30$ resistance

 

Trend forecast: Bearish