Short Term Correction for Brent Oil?

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Brent is reversing after unsuccessful attempt to challenge the Major Long Term Down Trendline (from Jul 2008 – All Time High).

Negative divergence can be seen between Brent and RSI and a short-term correction is expected.

Nearest support at USD74.45 confluences with 20-day EMA and Brent is expected to rebound off at this level. Breached this level, the next support is USD72.11.

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