The move above 78.83 on this CFD chart) confirms the break of downward momentum and the low is in for now.
With next key levels far away, it likely leaves a focus on $80 to set its tone.
Given the impact of geopolitics on the price of oi and its influence on other markets, traders likely to take a cue from the reaction in price to news more than the news itself.
(AT Daily Chart)
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