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Crude Oil – One-Day Rally or Something More

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Apr 6, 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 Tuesday, crude oil moved lower after the market’s open weakened by an unexpected decline in monthly U.S. gasoline demand. Despite this drop, the commodity reversed and rebounded in the following hours. As a result, light crude gained 3.10% and invalidated earlier breakdown. What does it mean for oil bulls? Yesterday, crude oil extended losses after the market’s open after U.S. government

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