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After a sharp decline yesterday, WTI crude oil prices closed at 71.55. We recommend breaking through this level in order to open the way for further short-term declines, with the next target being 70.00. Therefore, we expect to see more bearish expectations in the next few trading days, with support from EMA50 below. If the price fails to break through 71.55, it will establish a new bullish wave with a target of testing the 73.80 area. Today’s expected trading range is between support at 69.70 and resistance at 73.10.
