Crude prices have risen slightly in recent daytime trading, taking advantage of the temporary positive momentum caused by stability above the EMA50 to compensate for some of the previous losses.
Despite this intraday rise, negative pressure remains in effect due to the emergence of negative overlap signals after entering over-acquired territory, as well as the price affection due to short-term negative rising wedge patterns.
Therefore, our expectations suggest a decline in intraday trading in the future if they remain stable below $63.20.
The expected trading range is $64.40 in support and $66.90 in resistance.
Today’s prediction: Bearish
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