Brent oil outlook

Brent’s recovery from below $39.14 after today after having closed abv the same ysterday indicates a short-term bottom is in place at $37.24 but resistance at $40.70-$41.00 is likely to hold.

Unless breached on daily closing basis, the outlook remains bearish, but selling is noted only below $39.14.

Fresh intraday longs can be build if current hourly candle closes abv $39.47 for obejective of $40.70-41.00

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