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Brent crude oil prices have decisively fallen below the $72.06 mark, closing the daily candlestick under this key level. This movement reinforces expectations of a continued bearish trend in both intraday and short-term trading. Analysts anticipate a decline toward the $70.90 level, followed by a potential drop to $70.00.
Maintaining the price below $72.06 is crucial for sustaining this downward momentum. If prices breach this level, it could trigger an intraday bullish wave, aiming to test the $73.90 range.
For today, the anticipated trading range is set between a support level of $69.80 and a resistance level of $72.80.
Related topic:
Natural Gas vs Crude Oil: What is the Difference?
