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Brent oil prices closed yesterday with notable gains, approaching the broken neckline of the double top pattern on the chart. Stochastic indicators, however, have lost their positive momentum, which could influence the price to resume its downward trend towards the next key target of $75.80. Maintaining prices below $78.80 is crucial for sustaining the anticipated decline; a breach of this level could shift momentum towards a new bullish phase, targeting $80.65.
Today’s expected trading range is between $76.10 for support and $79.10 for resistance.
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