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UBP: Oil prices enter “danger zone”

Based on technical analyses, the uptrend of Brent crude oil prices has reversed and more downside risk is evident, according to UBP. Brent crude saw five consecutive weeks of negative closings, UBP notes, adding that prices have dipped below the support level of $46.20. “The $46.20 level is an important support or pivot point of the rising channel, where price…

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