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Crude Oil Price Analysis
Crude oil prices are continuing their bullish rally, approaching the target of $81.50. The price is moving within a bullish channel, indicating potential for further gains. The next main targets are set at $82.25 and $83.90.
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Supporting Factors
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The EMA50 provides support from below, reinforcing bullish trend expectations.
Price stability above $79.55 is crucial for maintaining the bullish outlook.
Expected Trading Range for Today
- Support: $80.00
- Resistance: $82.90
Trend Forecast: Bullish
Crude oil is expected to continue its upward trend, with technical indicators and support factors pointing towards further price increases.
