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The price of crude oil has been exhibiting fluctuation around the 86.00 level since yesterday. This trend is attributed to continuous negative pressure stemming from the EMA50, reinforcing the probability of the anticipated bearish trend persisting in the near future. The subsequent target for this trend is set at 84.55.
Hence, our recommendation for today is to maintain a bearish outlook based on intraday analysis. The bearish trajectory will remain in effect unless the price surges above 87.35 and maintains a position beyond this level.
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Anticipated trading for today is projected to range between the support level of 84.30 and the resistance level of 87.40.
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Projected Market Trend: Bearish
