The price of Crude Oil was positive yesterday, but it stopped near the resistance of the bearish channel appearing in the picture. It started to turn back in a sign of resuming the downside movement supported by the negative signal provided by stochastic, along with the negative pressure provided by SMA 50.
Therefore, we will be waiting for negative trading for today, and targets start at 45.40 and extend to 44.10, taking into account that the break of 48.37 will stop the negative pressure expected and push the price to return to the upward trend in the short term.
The trading range for today is expected among the support at 45.00 and the resistance at 48.37
The general trend expected for the day: Some bearish gains - Analysis - 01-09-2017