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Aramco shares find key support amid optimism
The Saudi Aramco stock successfully maintained important support levels above its 200-day moving average after a period of technical consolidation and re-testing, as the market anticipates a return to upward momentum. The stock closed around 25.48 riyals, with expectations of surpassing a key resistance at 26.28 riyals, which could push it toward levels between 26.86 and 27.25 riyals, reaching a future target of 27.72 riyals. Meanwhile, the support level at 25.36 riyals remains critical to protect the bullish trend; a break below this level could open the door to a potential decline toward 24.79 riyals, reflecting the balance of forces between supply and demand and impacting the short-term technical picture.
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