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Brent Crude Oil Price Reestablishes Bullish Trajectory

by Jennifer

Brent crude oil price found solid support at the 84.33 level and embarked on a bullish rebound, initiating a fresh intraday bullish wave. This trajectory is poised to propel the price towards anticipated positive milestones, with the initial target set at 86.70. A significant breakthrough beyond this juncture would not only signify achievement of the aforementioned target but could also pave the way for a revisit to the previously attained peak at 88.22.

Consequently, the forthcoming sessions are anticipated to witness a sustained ascent, reinforced by the reinforcing presence of the EMA50. It is paramount to underscore that the continuation of this bullish wave is contingent upon maintaining levels above 84.33.

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Today’s envisaged trading range spans from the support at 84.50 to the resistance at 87.50.

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The envisioned trend for today remains bullish.

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