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Crude oil prices have been moving sideways since the morning session, currently consolidating below the $70.00 barrier. This behavior maintains the prevailing bearish outlook for the day, with a key focus on breaking below $69.05 to pave the way for a decline toward the next target at $67.65.
The Exponential Moving Average (EMA50) continues to exert downward pressure on prices, reinforcing the expectation of a bearish trend today. This trend will remain valid unless the price breaks above $70.70 and maintains its position above this level.
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The anticipated trading range for today is between $67.70 and $70.70.
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Trend Forecast: Bearish
