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Crude oil price analysis indicates a clear downward bounce following a test of the $83.60 level in previous sessions, reinforcing expectations for an intraday decline. The current trajectory supports the realization of our awaited target at $81.50, with potential for further extension of the correctional bearish wave towards the $79.60 areas upon breaching this level.
Consequently, the bearish trend scenario remains valid and active unless the price exhibits a rally to breach the $83.90 level and sustain trading above it.
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Expected Trading Range:
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- Support: $81.00
- Resistance: $83.00
Trend Forecast: Bearish
