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Crude oil prices are currently fluctuating around the $67.55 level, indicating the start of a bullish correction following the recent decline from $78.40 to $65.51. The initial target for this correction is $68.55, aligning with the 23.6% Fibonacci retracement level. Should the price surpass this level, the next potential target is $70.43.
Positive trading is anticipated today, with the potential for further gains if the price remains above $67.20. A break below this level, however, would negate the bullish scenario and prompt a return to the prevailing bearish trend.
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The expected trading range for today is between $66.60 (support) and $68.60 (resistance).
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Trend Forecast: Bullish
