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Crude oil prices saw additional declines yesterday, nearing the initial target of $69.05. The price tested the $70.00 level but faced resistance and began to decline again. The bearish trend is anticipated to continue, with the next target set at $67.65.
In the short term, the bearish outlook remains unless the price surpasses $70.70, which could shift the trend to potential intraday gains and a test of $72.04 before any further declines.
Today’s expected trading range is between $68.00 and $71.00.
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