Crude Oil Price Analysis Expected Scenario The crude oil price is hovering around the $79.60 level and is making attempts to confirm a breach. However, it faces strong resistance from the EMA50, while stochastic indicators show a clear loss of positive momentum.

Therefore, there is a likelihood of the correctional bearish trend resuming, especially given the completion of the double top pattern. Our target remains at $77.64. However, a breach of $79.80 would invalidate the expected decline and lead to further gains, with the next major target at $81.50.

Expected Trading Range for Today Between the support at $78.00 and the resistance at $81.00

Trend Forecast: Bearish