Oil against the US dollar is trading in a bearish trend during today’s session, holding below the pivot level of 93.50, reflecting continued selling pressure and the dominance of negative market sentiment.
If the downward movement continues, the price is expected to target 91.50 followed by 90.50.
Alternatively, in case of a bullish rebound, oil may rise toward 95.00 and then 96.50.
The bearish outlook remains valid as long as trading stays below 93.50, supporting a potential decline toward 90.50.
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