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Brent crude oil prices are showing notable gains, signaling the formation of a double bottom pattern on the charts. This pattern reinforces expectations of a sustained bullish trend in the upcoming sessions, potentially targeting levels at $87.05 and $88.50.
The bullish sentiment is further supported by trading above the EMA50, suggesting continued upward momentum as long as prices maintain stability above $85.80.
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Today’s anticipated trading range is expected to oscillate between support at $85.00 and resistance at $87.90.
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Trend Outlook: Bullish
