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Crude oil prices have secured robust support at the $77.24 level, stabilizing above this mark after recent declines. This recovery suggests a potential for gains on an intraday basis, with the price targeting $78.66 as the next significant resistance level. A breakthrough at this point could push prices toward $80.08.
However, a decline below $77.24 could invalidate the current bullish outlook, leading to increased downward pressure and a potential drop to around $75.50 in the near term.
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Today’s anticipated trading range is between $76.00 and $79.20.
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Trend Outlook: Bullish
