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Crude oil prices have recorded new positive movements, successfully reaching the first target of $72.15. Analysts anticipate a breach of this level, which would pave the way for further gains, with the next target set at $73.70.
Support from the 50-day Exponential Moving Average (EMA50) bolsters the bullish outlook, indicating continued upward momentum. However, it is important to note that if prices fall below $70.58, this could halt the bullish trend and trigger a decline.
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Today’s expected trading range is between a support level of $70.50 and a resistance level of $73.50.
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Trend Forecast: Bullish
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