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Crude oil prices closed yesterday with notable losses, confirming a break below the $67.56 level. This development suggests that the bearish trend is likely to continue in the short term, with potential targets of $64.40 and $63.40 on the horizon.
The bearish channel observed on the chart supports the expectation of further declines. However, if prices rise above $65.56, this could halt the downward movement and trigger a short-term bullish correction.
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Today’s anticipated trading range is between $64.60 for support and $67.60 for resistance.
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Trend Forecast: Bearish
