Oil against the US dollar is trading in a bearish trend during today’s session, holding below the pivot level of 108.00, reflecting continued selling pressure and weaker positive momentum in the market.
If the downward movement continues, the price is expected to target 104.00 followed by 102.00.
Alternatively, in case of a bullish rebound, oil may rise toward 111.00 and then 114.00.
The bearish outlook remains valid as long as trading stays below 108.00, supporting a potential decline toward 102.00.
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