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Brent Oil Price Analysis
Expected Scenario
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Brent oil price is currently breaking through the $85.80 level, which supports the expectations of a continuing correctional bearish trend. This movement is paving the way towards $84.10, representing the 38.2% Fibonacci correction level for the recent rise depicted on the chart. Therefore, a further decline in Brent oil prices is anticipated in the upcoming sessions, provided that the price remains stable below $86.75.
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Expected Trading Range
Support: $84.20
Resistance: $87.20
Trend Forecast: Bearish
