Oil against the US dollar is trading within a sideways range with a bearish bias during today’s session, remaining below the pivot level of 94.00 as selling pressure continues to weigh on prices.
If the decline continues, oil is expected to target 92.70 followed by 91.00.
Alternatively, in case of a bullish rebound, prices may rise toward 95.00 and then 98.00.
The bearish outlook remains valid as long as trading stays below 94.00, supporting a potential move toward 91.00.
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