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Crude oil prices have settled around the $74.00 mark following a significant decline in recent sessions. The outlook remains bearish, with a focus on a potential drop to $72.64, which is the next key target. This supports the continuation of the bearish trend for both intraday and short-term trading.
The EMA50 continues to exert negative pressure on the price, reinforcing the bearish trend. This outlook will hold as long as prices remain below $75.48.
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Today’s expected trading range is between $72.50 for support and $75.50 for resistance.
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Trend Forecast: Bearish
