What Will It Take for Oil Prices to Rally Back Above $71.02?

Weekly Recap and Forecast: Light Crude Oil Futures Light Crude Oil futures came under significant selling pressure this week, breaching key support levels and intensifying bearish sentiment. After breaking through the $71.02-$73.44 zone, prices dipped below $69.50, marking a critical technical breakdown. This decline leaves the market vulnerable, with $63.21 now appearing as the next significant downside target on the weekly chart. OPEC+ Delays Production Hike OPEC+ added to market uncertainty by delaying its planned production increase of 180,000…