oil has shown a lot of volatility over the past couple of weeks, currently, the price has retraced to cover the gap between the previous event of geopolitical tensions raised in the globe. On a technical perspective, price respected the key 55.00 psychological zones, which also has a key trendline in support, we could observe this as a lower high been formed.. looking at medium-term targets of 56.00 and possibly even higher.
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