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Brent crude oil prices are currently testing the $72.06 level, with market participants closely watching for a potential break below this point. A decline beneath this threshold would reinforce expectations of continued bearish momentum in the coming trading sessions. The outlook remains negative, with the focus now on possible targets at $72.20 and $70.65 as the next key support levels.
For the bullish case to materialize, however, Brent prices would need to break above $72.65 and maintain trading above that level. Until such a move occurs, the market is expected to favor downside pressure.
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The anticipated trading range for today is between support at $70.60 and resistance at $73.60.
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Trend Forecast: Bearish
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