Crude Oil Price Forecast: Crude Oil Bounces After Hitting New Correction Low of $70.59
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Crude oil prices have rebounded after hitting a new correction low of $70.59. Despite this bounce, the bearish trend persists with key resistance at $71.73. There is potential for further downside if support levels are breached.
February 13, 2025 | 10:00 pm
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The United States Brent Oil Fund (BNO) may experience volatility as crude oil prices rebound from a low of $70.59. The bearish trend remains, with key resistance at $71.73, indicating potential for further downside.
BNO, as an ETF tracking Brent crude oil prices, is directly impacted by fluctuations in crude oil prices. The recent rebound from $70.59 suggests short-term volatility, but the overall bearish trend and resistance at $71.73 indicate potential for further downside, affecting BNO's performance.
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