Crude Oil is trading around 56.20 and remains under selling pressure as long as price stays below the 56.60 pivot. The short-term structure is bearish to sideways, with sellers defending rallies near resistance zones.
Key Levels to Watch:
- Resistance: 57.20 / 57.80 / 58.40
- Support: 55.70 / 55.10 / 54.30
Bearish Scenario:
As long as price trades below 56.60, sell-on-rise remains the preferred strategy. A move below 56.00 can accelerate downside toward 55.70, followed by 55.10.
Bullish Recovery Scenario:
Only a strong and sustained move above 56.60 would ease selling pressure and open the path toward 57.20 and 57.80.
Intraday Strategy:
Sell rallies near 56.50–56.60, keep a protective stop above 57.00, and target 55.70 / 55.10. Long positions are advised only if price firmly holds above 56.60.
Bottom Line:
Trend remains negative below 56.60. Bears stay in control unless buyers reclaim the pivot decisively.
For Trade setup and more : https://t.co/3XzG4OR5Am
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