Crude oil prices resume their downward trend - Analysis-13-11-2023

Crude oil prices opened today and started to strengthen from the 77.86 mark, reinforcing expectations of a continuation of the bearish trend, and the path is open to achieve our negative target, which starts from 75.50 and extends to 73.73.

Stochastic now provides a clear negative signal in support of the suggested bearish trend operating within the bearish channel appearing on the chart, reminding you that holding below 77.86 is very important to achieve the suggested target.

Today's expected trading range is between 74.70 support and 77.60 resistance.

Expected trend today: Bearish