On April 20th, the latest opinion of analysts at Economies.com today: WTI crude oil prices hit our waiting target of 78.90 and put negative pressure on it at the opening today, strengthening the possibility of continuing to correct the bearish trend in the intraday and short term However, a confirmed break would push prices to the 76.10 area, the next major hurdle.
EMA50 forms negative pressure, supporting the expected bearish continuation, stating that a break above 80.25 would arrest the suggested decline and cause the price to try to resume the main bullish trend again.
Expect today’s trading range to be between 77.20-80.25.