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Brent Oil Eyeing New Highs

The Brent Oil increased significantly since yesterday and seems poised for a further increase in the upcoming period. Is trading above the $51.20 per barrel and could approach the 53.03 static resistance if the USD/CAD will slide further. A throwback was expected after the US Crude Oil Levels amazing drop, the indicator was reported at -8.9 million barrels in the previous week, much lower versus the -3.0M estimate. Only a breakdown from the minor ascending channel will signal a further drop.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

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