Oil against the US dollar is trading in a bearish trend during today’s session, remaining below the pivot level of 104.00, reflecting continued selling pressure in the market.
If the decline continues, the price is expected to move toward 98.00 followed by 96.00.
Alternatively, in case of a bullish rebound, oil may target 106.00 and then 114.00.
The bearish outlook remains valid as long as trading stays below 104.00, supporting a potential decline toward 98.00.
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