4
Crude oil prices have broken the $68.64 level and closed below it, setting the stage for continued negative pressure in the coming sessions. The next potential targets for this bearish move are $67.00, followed by $65.50, contingent on breaking the previous support.
The bearish bias is supported by negative pressure from the EMA50. However, a move above $68.64 would reverse the current negative momentum, potentially leading to short-term recovery attempts.
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The expected trading range for today is between $66.70 (support) and $69.70 (resistance).
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Trend Forecast: Bearish
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