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Brent crude oil prices are currently exhibiting a bearish trend, having failed to maintain momentum above the $74.00 threshold. This downturn confirms the ongoing bearish sentiment, with the next target set at $72.90. A breach of this level could pave the way for a further decline towards $71.60.
Maintaining a position below $74.00 remains crucial for the bearish outlook, as a move above this level could trigger a price rebound towards the key resistance at $75.80.
Today’s anticipated trading range is between $72.20 and $75.20.
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