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Brent Oil Price Rebounds, Eyes $82.80 and $84.00 Targets

by Daisy

Brent oil prices faced significant negative pressure yesterday, dipping to the $80.60 level. However, the price found support above the bullish channel’s lower boundary and has started to rise again as of today, indicating a potential continuation of the main bullish trend. Positive targets now lie at $82.80, followed by $84.00.

Stochastic indicators are providing a positive signal, further supporting the expectation of continued upward movement in the coming sessions. However, a break below $81.25 would halt the bullish momentum and could trigger a bearish correction on an intraday basis.

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For today, the expected trading range is between $80.50 on the downside and $83.50 on the upside.

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Trend forecast: Bullish

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