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Crude oil prices are currently under negative pressure, moving below the $72.15 level, which suggests a potential decline in the coming sessions. The next support target is seen at $70.58 before any possibility of a rebound.
To maintain the bullish outlook, oil prices need to regain and stabilize above the $72.15 level. If this occurs, the positive scenario could be revived, with the next key target at $73.71.
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Today’s expected trading range for crude oil is between support at $71.10 and resistance at $74.10.
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Trend Outlook: Bullish
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