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Crude Oil Price Analysis: Bullish Bias Persists, Targeting $83.90

by Daisy

The outlook for crude oil prices remains bullish, as they extend gains beyond the $81.50 level, signaling potential intraday upward movement with a target set at $83.90 as the next significant objective.

Market sentiment leans towards the continuation of the bullish trend in the forthcoming sessions. A breach above $82.80 will likely facilitate reaching the suggested target. Conversely, a downside break below $81.50 would interrupt the bullish momentum, leading to fresh losses, with the next corrective level anticipated around $79.60.

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Expected Trading Range: $81.30 (Support) – $84.30 (Resistance)

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Trend Forecast: Bullish

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