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Crude oil is currently testing the key support level of $71.95, showing signs of bearish pressure. Traders should be cautious, as the price must hold above this level to maintain the correctional bullish trend. The next target in this upward movement is $73.48.
However, if the price breaks below $71.95, it would signal additional bearish momentum, with the next downside target at $70.44.
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The expected trading range for today is between $71.15 support and $74.14 resistance.
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Trend Forecast: Bullish
