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Crude oil prices have continued their decline, approaching the critical support level of $76.86. The price is consolidating above this support, indicating preparation for a potential bullish wave. Positive momentum is being gathered, which could push the price higher in the coming sessions. The initial target is to test $78.35, with a potential rise to $79.84 if this level is breached.
Today’s outlook suggests potential positive movement. However, if the price falls below $76.86, the anticipated rise may be halted, leading to further losses.
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The expected trading range for today is between $76.00 support and $79.00 resistance.
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Trend Forecast: Bullish
