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Crude oil prices have settled around the $74 mark following a significant drop in recent trading sessions. The market appears poised to continue its downward trend, with the next target set at $72.64, which is anticipated to be the next key support level.
The ongoing bearish sentiment is reinforced by the 50-period Exponential Moving Average (EMA50), which continues to exert downward pressure on prices. This trend is expected to persist as long as crude oil remains below the $75.48 threshold.
Today’s anticipated trading range for crude oil is between a support level of $72.50 and a resistance level of $75.50.
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