Crude oil prices are displaying a slight bearish bias, approaching the key support level at $70.58. For the bullish trend to remain valid, the price must consolidate above this level. The next target for the uptrend is $72.15.
Unless the price breaks below $70.58 and closes below it on a daily basis, the bullish outlook is expected to continue.
The anticipated trading range for today is between support at $69.60 and resistance at $72.60.
Trend Forecast: Bullish
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