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Crude oil has resumed positive trading, testing the $70.00 barrier and reinforcing expectations of a bullish trend continuation for the remainder of the day. The price is on track to achieve the initial target at $70.58, with a potential extension of the bullish wave towards $72.15 if the $70.58 level is surpassed.
The bullish outlook remains intact as long as the price stays above $68.64. A break below this level could invalidate the bullish scenario.
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Expected Trading Range:
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Support: $68.20
Resistance: $71.20
Trend Forecast: Bullish
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