Oil/USD is trading with a bearish intraday bias, remaining below the key pivot level at 106.00, which reflects continued selling pressure and weak bullish momentum. As long as the price stays below this level, the downside scenario remains favored.
If the bearish movement continues, oil prices are expected to decline toward 98.00 followed by 96.00. However, if the market reverses and breaks above 106.00, a corrective rebound may develop toward 109.00 and then 115.00. Overall, sustained trading below 106.00 supports further downside toward 98.00 in the near term.
Discover why over 25.000 live trading accounts trust Highness, and join the community of successful traders today.
KU 