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Last Friday, crude oil prices closed on a positive note, surpassing the $68.55 level and settling above it. This movement indicates the potential for a bullish wave in the near term, with an initial target of $70.44. Should prices break through this level, the next target could be $71.95.
Looking ahead, positive trading is anticipated in the upcoming sessions. However, a drop below $68.55 would negate this bullish outlook and lead to a potential decline in prices.
Today’s expected trading range is set between $68.00 as support and $71.00 as resistance.
Related topic:
Natural Gas vs Crude Oil: What is the Difference?
