FenzoFx—Crude oil dropped from $72.20 and is now testing the $68.8 support. The decline was expected as the Stochastic oscillator signaled overbought conditions.
If $68.8 breaks, the downtrend could extend to $67.6.
Bullish Scenario: However, a higher low above $70.15 would invalidate the bearish outlook, potentially pushing prices back to $72.20.
If $68.8 breaks, the downtrend could extend to $67.6.
Bullish Scenario: However, a higher low above $70.15 would invalidate the bearish outlook, potentially pushing prices back to $72.20.
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