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Crude oil prices showed clear positive movement yesterday, reaching the $74.80 area. However, today’s session begins with a bearish bias, suggesting a resumption of the main bearish trend. We expect the price to test the $72.64 level again, supported by the negative pressure from the EMA50.
The bearish outlook will remain valid as long as the price holds below the $75.48 resistance level. A breach above this level could lead to a recovery and further gains, potentially reaching the $77.24 area.
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Expected Trading Range for Today:
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Support: $72.50
Resistance: $75.50
Trend Forecast: Bearish
