2
Crude oil prices opened today with positive trading activity, marking a new attempt to breach the critical $72.15 level. This movement bolsters expectations of a continued bullish trend in the coming sessions, with initial targets set at testing the $73.70 region.
The positive outlook for crude oil remains intact on an intraday basis. However, market participants should note that a decline below the $70.58 threshold would reverse the bullish trend, leading to a potential price drop.
Today’s expected trading range is projected between the support level of $71.00 and the resistance level of $74.00.
Related topic:
Natural Gas vs Crude Oil: What is the Difference?
