Crude oil price edges down amid bearish pressure – Analysis – 07-01-2026.

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Crude oil extended its sharp decline in the latest intraday session, weighed down by continued negative pressure as it trades below the EMA50. This suggests weak momentum and limits the potential for any immediate bullish rebound.

The downtrend is further reinforced by bearish signals from the relative strength indicators. Despite reaching oversold levels, selling pressure remains dominant, in line with the primary short-term bearish trend, signaling that any attempts to stabilize may face significant technical resistance.

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