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Crude Oil Price Forecast: Bearish Trend Continues

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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