FxNews—The October 24 high at $72.25 is the immediate resistance. The uptrend will likely resume if bulls close and stabilize the price above this level. In this scenario, the next bullish target could be $73.4, followed by $75.8, the 78.6% Fibonacci retracement level.
Please note that the Crude Oil bullish outlook would be invalidated if crude oil prices fall below the $69.7 immediate support.
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