Crude oil prices have opened today with strong bullish momentum, successfully breaking above the key resistance level at $70.58. This breach suggests the activation of a bullish trend on the intraday chart, with the next target at the $72.15 mark.
Given this positive development, a bullish outlook is expected for the upcoming sessions. However, if prices fail to maintain a position above $70.58, the upward momentum could stall, and the market may revert to a sideways trend.
For today, the expected trading range for crude oil is between support at $69.40 and resistance at $72.40.
Trend Forecast: Bullish
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