Crude oil prices have been hovering around the $68.64 mark since the morning of December 5, 2024, as the market awaits a breakout to confirm the continuation of the bearish trend. A move below this level would primarily target $67.00.
For the bearish outlook to remain valid, prices must stay below $69.15. A breach of this level, however, could signal a potential reversal, with a move toward $70.58 as the next resistance.
The anticipated trading range for crude oil today is between $66.80 (support) and $69.80 (resistance).
Trend Forecast: Bearish
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