Crude Oil
Crude oil is currently showing a bearish trend, consistently trading within a bearish channel. The Relative Strength Index (RSI) is attempting to cross the crucial 50 mark, a movement that could indicate potential market shifts. However, it's not a guaranteed sign of a bullish reversal.
The oil price is testing a significant resistance at $83.2. The result of this test could offer insights into future price trends. A break above this resistance might suggest a shift in market sentiment, while failure to do so could reinforce the bearish trend.
The oil market remains bearish as long as the price stays within this channel, indicating that sellers currently have the upper hand. If the bearish momentum persists, the oil price might drop to $80. However, this is a prediction and actual market movements can vary. (source)