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Brent crude oil prices closed higher in the latest intraday session, supported by a dominant short-term bullish trend. Trading alongside an upward bias line, Brent has shown renewed strength, bolstered by positive signals from the Relative Strength Index (RSI) following a recent oversold condition.
The price remains firmly above its 50-day Exponential Moving Average (EMA50), reinforcing the current upward momentum. This technical setup positions Brent crude oil to prepare for a potential test of its immediate resistance level at $74.70.
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Market participants will be watching closely to see if Brent can break through this barrier and sustain its bullish trajectory.
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