The rise in the price of oil stopped at 39.88, to record a low from the record recorded at the beginning of the week at 40.41, which indicates that the price will face expected negative pressure during the upcoming sessions, on its way to test the 36.10 level initially.
It should be noted that the above mentioned structure indicates the possibility of a short-term descending wave to extend beyond the targeted level and head towards 33.40 as the next main station, therefore it is necessary to monitor the price behavior at 36.10.
On the other hand, it should be noted that breaching 40.41 will stop the current negative pressure and lead the price to return to the main bullish path again.
the expected trading range for today is between 36.10 support and 39.60 resistance <...
