Oil against the US dollar is trading in a bullish trend during today’s session, holding above the pivot level of 109.00, reflecting continued positive momentum and strong buying support in the market.
If the upward movement continues, the price is expected to target 112.00 followed by 114.00.
Alternatively, in case of a downside correction, oil may decline toward 107.00 and then 105.00.
The bullish outlook remains valid as long as trading stays above 109.00, supporting a potential move toward 114.00.
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