Crude Oil Continues to Decline Towards Our Goals

US crude oil prices managed to achieve the required targets during the previous session at a price of 67.20, recording a low of 65.23.

Technically, we expect more negativity, with the continuation of the negative signs that started appearing on Stochastic, accompanied by the negative pressure of the 50-day moving average.

The bearish scenario is the most preferred, as long as trading remains below 67.50/67.60, targeting 65.50 and then 64.00, respectively, knowing that the first official target for the current downside wave is around 62.80.

Price stability above 67.60 will postpone the bearish scenario, and we may witness a bullish bias that aims to retest 68.30 and 68.80 respectively.

Note: the risk level may be high today.

S1: 65.50	R1: 68.30
S2: 64.00	R2: 69.50
S3: 62.75	R3: 71.05