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In the realm of Brent oil, prices persist in their ascent towards the pivotal psychological threshold of $90.00 per barrel. Analysts anticipate the bullish trend to persist, with the next major target set at this significant milestone. Should this barrier be breached, further gains are projected, potentially reaching up to $91.00 per barrel.
However, market observers caution against possible sell-offs and profit-taking as the price approaches the psychological barrier. A temporary cessation of the bullish wave may occur if the price falls below $88.60, prompting a test of the initial key support level at $87.40.
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Expected Trading Range for Today:
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- Support: $88.30
- Resistance: $91.20
Trend Forecast: Bullish
