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Crude Oil – North or South?

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Mar 21, 2016.

  1. Sandra S.

    Sandra S. Forum Member

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    Trading position (short-term; our opinion) : No positions are justified from the risk/reward perspective. On Friday, crude oil lost 1.30% after unexpected increase in U.S. oil rig counts. As a result, light crude slipped under $42 and closed the day under the previously-broken 61.8% Fibonacci retracement. What’s next for the commodity? On Friday, crude oil moved higher after the market’s open and hit a fresh 206 high of $42.49. Despite this improvement, the commodity gave up some gains after

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