Crude Oil Price Analysis Expected Scenario Crude oil prices recent trades are confined within a bearish pennant pattern that appears on the minor image. Thus, the price needs to break 73.15$ to activate the negative effect of this pattern followed by rallying to resume the main bearish trend, which its next target located at 71.35$. Therefore, we will continue to suggest the bearish trend for the upcoming period, supported by the negative pressure formed by the EMA50, noting that breaching 73.90$ will stop the expected decline and push the price to test the key resistance line 75.25$ before any new attempt to decline. Expected Trading Range Between 71.60$ support and 74.60$ resistance.

Trend Forecast: Bearish