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Brent oil re-enters falling channel

TVC:UKOIL   Brent Crude Oil
Brent prices have re-entered falling channel as expected in the morning update. The current 4-hour candle if closes back inside the falling channel would signal The recovery from the low of $49.35 has ended.

The subsequent moves lower could breach support at $49.35 and take prices down to $48.40-48.00 levels.

On the higher side, only a daily close above $50.81 would signal bearish invalidation.
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