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Brent crude oil prices have recently dipped below the $73.55 mark, solidifying expectations of a continued bearish trend. This development suggests that the price may soon approach the anticipated target of $71.60.
In the near term, further declines are expected. Should the price break through the $71.60 level, the bearish trend could extend to the $70.00 barrier. For this downward trend to persist, it is crucial for the price to remain below $74.30.
For today, the projected trading range for Brent crude oil is between a support level of $71.50 and a resistance level of $74.40.
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