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Crude oil prices are showcasing renewed positive momentum, affirming the breach of the 70.50 level and signaling a potential recovery in the upcoming sessions. The primary objective appears to be a visit to the crucial resistance at 73.73.
Consequently, today’s outlook leans towards a bullish bias. It’s important to monitor the 70.50 level, as a break above and sustained support could reinforce the bullish scenario. Conversely, a retreat below 70.50 might reactivate the bearish trend, with a key downside target at 67.04.
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The expected trading range for today fluctuates between the support at 70.20 and resistance at 73.30.
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Projected Trend for Today: Bullish
