Brent oil prices experienced a noticeable upward bounce after testing the $68.70 level in previous sessions, driven by stochastic indicators showing positive momentum. The price is now approaching the $70.40 resistance, which is crucial for the short-term direction of the market.
To maintain the bearish trend, the price needs to consolidate below this key resistance level.
Key Levels to Watch:
- Support: $68.70
- Resistance: $70.40
Trend Forecast: Bearish (Pending price consolidation below $70.40)
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