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Commodities

Brent Crude Eyes $97.23 Resistance Amid Bullish Momentum

Guavy AI Editorial Team
Instruments
Oil
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Brent crude oil is trading at $95.97, showing a modest upside move for the session.

The price remains positioned above its key short- and medium-term moving averages, as well as above the longer-term daily average, indicating persistent bullish price action in the near term.

Momentum indicators are mixed, with MACD issuing a buy signal and CCI and Bull/Bear Power showing overbought conditions, while ADX stays neutral.

Brent crude is expected to consolidate between $94.71 and $97.23 over the next 2 to 3 trading days, with a high probability of upward movement.

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