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Brent oil – Stuck at falling trendline

TVC:UKOIL   Brent Crude Oil
Oil’s repeated failure to dip/sustain below $45.50 followed by a sharp rally on Thursday, which saw prices end at $48.86 (highest since September 9) suggests a short-term bottom is in place around $45.50 and further gains await on the other side of the falling trend line hurdle seen around $49.00/barrel.

On the lower side, $48.23 (Sep 23 high) is a key support.
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