The price of crude oil has successfully surpassed the level of 72.50 and established itself above this point, aiming to achieve intraday gains with a primary target set at 73.73. It is crucial to acknowledge that this anticipated rise is considered temporary. The prevailing suggestion is the continuation of the bearish trend’s dominance on both intraday and short-term bases, provided that the specified level remains unbroken.
Conversely, it is important to highlight that breaching the 72.00 level will impede the expected rise, leading the price to resume the bearish wave and approach the 70.00 barrier as the principal negative threshold.
The anticipated trading range for today is forecasted to fluctuate between the support level at 71.50 and the resistance level at 74.00.
Expected Trend for Today: Bullish
