Crude oil is retesting the previously broken support of the descending channel, whereas its affected by the positivity of MACD and RSI, while Linear Regression Indicators are providing negative signals that keeps the overall downside move valid with targets starts by breaking 80.00 then 78.00. Of note, breaching 81.85 halts the negative expectations and could push the price to reverse its intraday move to the upside.
Support: 81.00, 80.45, 80.00, 79.15, 78.70
Resistance: 81.85, 82.70, 83.25, 84.05, 84.90
Resistance: 81.85, 82.70, 83.25, 84.05, 84.90
Recommendation Negative expectations below 81.85, risk-limit above 83.25.
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