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Brent crude oil prices retreated sharply after nearing the anticipated positive target of $73.90, dropping to approximately $72.06. Analysts predict continued downward pressure, with a potential break below this level paving the way for further declines toward $70.85 and potentially $70.00 in the short term.
The outlook for the day remains bearish unless the price rebounds to surpass $73.90 and sustains levels above this threshold.
Forecasted trading levels for the day are set between a support at $71.00 and resistance at $74.00.
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