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Crude oil prices have settled at approximately $71.95, closing the previous trading session above this key level. This upward movement supports the likelihood of a continued bullish trend in the coming days, with an anticipated correctional target set at $73.48.
Market analysts continue to favor a bullish outlook on both intraday and short-term bases, bolstered by the formation of an inverted head and shoulders pattern. However, it is crucial for prices to remain above $70.44 to sustain this upward trajectory.
Today’s expected trading range is projected between a support level of $70.80 and a resistance level of $73.80.
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