Crude oil prices experienced a notable downturn recently, retreating from the $84.00 barrier observed in previous sessions to test a crucial support level around $81.84 as of today’s market opening. This movement suggests a potential return to a corrective bearish trajectory, although market analysts advise caution in predicting the next trend direction.
Experts recommend monitoring key price levels closely: a break below the $81.84 support could signal further declines, potentially targeting the next support at $80.08. Conversely, a breach above the resistance level at $82.75 would indicate a bullish momentum, aiming for a significant upward move with a target around $84.68.
Market expectations for today’s trading session point to a range bound between $80.60 as support and $84.00 as resistance. Traders and investors are advised to remain vigilant for clear signals indicating the next decisive trend in crude oil prices.
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