Oil against the US dollar is trading within a sideways range during today’s session, fluctuating around the pivot level of 104.00 amid mixed market sentiment.
If downside pressure continues, the price is expected to decline toward 100.00 followed by 96.00.
Alternatively, if a bullish rebound occurs, oil may target 106.00 and then 110.00.
The bearish bias remains valid as long as trading stays below 104.00, supporting a potential decline toward 96.00.
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