Oil against the US dollar is trading in a bearish trend during today’s session, remaining below the pivot level of 73.40, reflecting continued selling pressure and negative market sentiment.
If the decline continues, oil is expected to target 72.60 followed by 72.00.
Alternatively, in case of a bullish rebound, prices may rise toward 73.80 and then 74.20.
The bearish outlook remains valid as long as trading stays below 73.40, supporting a potential move toward 72.00.
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