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Crude oil prices initially tested a recent low of $67.56 but have since risen, breaking through the bearish channel’s resistance. This movement suggests the start of a bullish correction, with an initial target of $70.12. Should the price surpass this level, it could further advance to $71.70.
Positive trading is anticipated in the upcoming sessions. However, if prices drop below $68.45 and then $67.56, it would halt the bullish trend and potentially resume the primary bearish trajectory.
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The expected trading range for today is between $67.56 support and $70.55 resistance.
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Trend Forecast: Bullish
