Crude oil price Expected Scenario Crude oil price trades positively to head towards potential test to the key resistance 79.60$, and the EMA50 meets this resistance to add more strength to it, to keep the overall negative scenario valid for the upcoming period, and the price needs to break 77.64$ to confirm rallying towards 75.25$ as a next target. On the other hand, we should note that breaching 79.60$ will push the price to achieve additional gains and test 81.50$ as a next positive station. Expected Trading Range Between 76.40$ support and 79.40$ resistance.

Trend Forecast: Bearish