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Crude: no end in sight for oil's bear trend

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Yesterday’s sharp rally in oil was halted, with WTI giving up its entire gains before the official weekly crude stockpiles report was released today. Evidently, traders were unnerved by the American Petroleum Institute’s (API) inventories report that was released last night, which showed a surprisingly large build of 2.9 million barrels when a small draw was expected. The US Depart of Energy reported similar numbers today, with total crude oil stockpiles rising by 2.6 million and distillate

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