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    Brent Oil: Larger uptrend could materialize on a break past $84.75 – SocGen

    Fonte Fxstreet
    12/02/2024 10:02

    Brent Crude is again trading above $80.00. Economists at Société Générale analyze Oil’s outlook. 

    50-DMA at $78.50 is first support

    Brent broke out above multi month descending channel denoting possibility of short-term rebound. It is gradually inching towards the high formed last month near $84.75. Once this is overcome, a larger uptrend could materialize. This crossover can result in a move towards $88.00 and perhaps even towards $91.70, the 76.4% retracement from last September.

    The 50-DMA at $78.50 is first support near term.

     

    Isenção de responsabilidade: Apenas para fins informativos. O desempenho passado não é indicativo de resultados futuros.
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