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Crude oil prices are currently trading in negative territory, having fallen below the $70.58 level. This movement reinforces expectations for a continued bearish trend in the coming sessions, with the primary target set at $68.65.
The presence of a double top pattern further supports the outlook for ongoing declines. This bearish trend will remain in effect unless prices rally to breach the $72.15 mark and maintain trading above it.
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The anticipated trading range for today is between a support level of $69.00 and a resistance level of $72.00.
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Trend Forecast: Bearish
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