Crude oil prices have continued to experience downward pressure, with the price approaching the $69.00 barrier. The market is now eyeing further declines, potentially testing the key support level at $68.65, which represents the main negative target. A break below this level could lead to additional losses, pushing the price toward $67.75.
The bearish trend is expected to persist on an intraday basis. However, if the price breaches the $70.58 level, this would halt the bearish wave and initiate a recovery.
Expected Trading Range for Today:
- Support: $68.50
- Resistance: $71.30
Trend Forecast: Bearish
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