The price of crude oil has initiated today’s trading session with substantial negativity, distancing itself from the 77.86 level. This reinforces the expectations of a continued bearish trend, paving the way for the realization of our anticipated downward targets, commencing at 75.50 and extending to 73.73.
Stochastic indicators are currently providing clear negative signals, lending further support to the proposed bearish trend. This trend is unfolding within the confines of a bearish channel outlined on the chart. It is crucial to emphasize the significance of maintaining a position below 77.86 to actualize the suggested targets.
The projected trading range for today is poised between support at 74.70 and resistance at 77.60.
Anticipated Trend for Today: Bearish
