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Forecast update for crude oil -07-08-2026
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Forecast update for crude oil -07-08-2026
Aug 7, 2026 6:42 AM

Crude oil price declined in the last intraday trading, amid the dominance of the bearish corrective trend on the short-term basis, with its trading alongside supportive trend line for this track, besides the continuation of the negative pressure that comes from its trading below EMA50, noticing the beginning of forming negative divergence on the relative strength indicators after reaching overbought levels, exaggeratedly compared to the price action, with the emergence of negative signals from them.

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