Crude oil prices successfully reached the anticipated target of $70.58 and are currently consolidating near this level. The outlook remains bullish, with expectations for further gains that could push prices above $70.58 and pave the way for additional positive targets in the coming sessions. The next target is set at $72.15.
However, failure to break through the $70.58 level may place the price under negative pressure, potentially triggering a bearish wave that could test the $68.64 area.
The expected trading range for today is between support at $69.00 and resistance at $72.00.
Trend forecast: Bullish
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