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Brent crude oil prices are currently testing a critical resistance level at $72.00. As noted earlier today, it is essential for prices to remain below this threshold to sustain the bearish trend in the near term. Traders are anticipating a negative catalyst that could drive prices down towards the next target of $70.00.
The anticipated trading range for today is between a support level of $69.80 and a resistance level of $72.80.
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Trend Forecast: Bearish
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