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Brent oil price achieves clear gains – Analysis - 24-02-2023
Brent oil price provided strong positive trades yesterday, as it breached 81.30 level to approach the EMA50, which pushes the price to achieve more expected gains in the upcoming sessions, targeting testing 83.85 followed by 85.10 levels as next main stations.
Breaching the minor bearish channel’s resistance that appears on the chart adds more support to the expectations of continuing the rise today, taking into consideration that failing to surpass 83.20 might force the price to decalin again to head towards testing 81.30 initially.
The expected trading range for today is between 81.30 support and 84.50 resistance.
The expected trend for today: Bullish
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