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Commodities

Brent Crude Oil Seeks Bullish Momentum Amid Short-Term Dominance

Guavy AI Editorial Team
Instruments
Oil
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Brent crude oil prices have been fluctuating during their latest intraday trading session, as they attempt to gain bullish momentum that could help them recover and rise again.

The dominance of the main bullish trend on the short-term basis has continued, supported by the positive pressure from Brent trading above its 50-day exponential moving average (EMA50), which represents a dynamic support base reinforcing the chances of near-term recovery.

However, negative signals have emerged from the relative strength indicators (RSI), obstructing this recovery for now.

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