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Brent crude oil prices experienced significant downward pressure yesterday, falling below the $75.36 mark and closing beneath it. This move signals the likelihood of further declines in the coming sessions, with projected targets at $73.90 and potentially extending to $72.06 if the price breaks below the previous support level.
The bearish outlook is further reinforced by the negative pressure from the EMA50 indicator. However, a break above the $75.36 level could halt this downward trend, potentially prompting a recovery in prices.
For today, the expected trading range is between $73.00 as support and $76.00 as resistance.
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Natural Gas vs Crude Oil: What is the Difference?
