Crude Oil Tends to be Negative

US crude oil futures prices witnessed positive attempts during the last session’s trading, recording a high of 83.20 after retesting 80.80.

Technically, we notice the signs of negativity that dominate the stochastic, which gradually lost the bullish momentum on the 4-hour time frame.

We tend to the negativity, but with caution, relying on the stability of the intraday trading below the resistance level of 83.40, and most importantly, 83.75, targeting a retest of 81.70 and 81.30, respectively, as initial targets.

Rising above 83.75 will stop the suggested bearish scenario and lead oil prices to consolidate their gains towards 84.80/84.70.

S1: 81.30	R1: 83.75
S2: 79.80	R2: 84.70
S3: 78.90	R3: 86.15