Crude Oil - Technical Analysis: Thursday, 08/06/2017 09:09 GMT

Crude oil price declined strongly yesterday after it kept its stability below 48.06 level, to succeed reaching our extended target at 46.00, noticing that the price broke this level to indicate heading towards the previously recorded low at 44.13.

Thus, the bearish trend will remain expected and dominant in the coming period unless the price rallied to surpass 47.13 level and settle above it, which will lead trades to achieve gains that reach to 49.00 mainly.