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CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.

Technical analysis: key levels for crude

Brent hits a 30-month high, with a bullish breakout pointing towards further upside in the near future.

Oil platform figure

Brent breaks to 30-month high

Brent  has managed to break out of its recent consolidation range, with the price hitting a new 30-month high. The price has since turned lower into trendline support, which along with the previous high of $65.42 are expected to mark the near-term levels to watch.

Ultimately we need to remain above $64.01 to remain bullish. A move back below that level would heighten the chance of us trading back in the recent range. Until then, a bullish outlook is in place.

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