Oil against the US dollar is trading within a sideways range with a bearish bias during today’s session, remaining around the pivot level of 96.00 amid cautious market sentiment and balanced supply-demand dynamics.
If the decline continues, oil is expected to target 94.00 followed by 93.00.
Alternatively, in case of a bullish rebound, prices may rise toward 98.00 and then 100.00.
The bearish outlook remains valid as long as trading stays below 96.00, supporting a potential move toward 93.00.
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