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Commodities

Brent Crude Oil Prices Test $86.00 Resistance Amid Negative Pressure

Guavy AI Editorial Team
Instruments
Oil
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Brent crude oil prices rose during their latest intraday trading, retesting the $86.00 resistance level.

This comes after breaking a bullish trend line on the short-term basis, but the negative pressure from being below the EMA50 remains, reducing the chances of a full recovery in the near term.

The relative strength indicators have entered severe overbought levels, indicating a quick loss for the bullish momentum and threatening to rebound gains.

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