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Brent crude oil prices fell significantly yesterday, breaking through the $73.79 mark and closing below this threshold. This decline suggests that prices may face continued downward pressure in the coming sessions, with the next key target set around the $72.00 level.
Today, a bearish outlook is anticipated, particularly as prices remain below the 50-day exponential moving average (EMA50). Should prices manage to breach the $73.79 level, followed by the $74.25 mark, this would indicate a reversal of the current downward trend, allowing for a potential return to a bullish correction.
For today, the expected trading range is forecasted between a support level of $72.00 and a resistance level of $75.00.
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