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Crude oil prices are fluctuating around the anticipated level of $76.86. Analysts suggest that surpassing this threshold could pave the way for additional gains, potentially reaching $78.35. This forecast is influenced by a double bottom pattern evident on the chart.
However, if the price consolidates at $76.86, it may face a bearish rebound, potentially testing the $75.00 area before any further upward movement.
For today, the expected trading range is between $75.40 support and $78.40 resistance.
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