Crude oil prices have experienced a substantial decline, successfully reaching the awaited target of 84.55. It is noteworthy that the price has tested this level, potentially opening the door for further bearish corrections with the next target marked at 81.20. This indicates the continuation of a bearish trend in the near-term.
It’s essential to observe that the consolidation of the price around the 84.55 level, while under the influence of the current downward pressure, might prompt attempts to initiate a bullish wave. In this scenario, the primary objective for such an upswing would be to reach the 88.70 price range.
This update reflects the recent movements and targets in the crude oil market, underscoring the potential for both bearish and bullish developments in the coming sessions.
