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Crude oil looking constructive

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 4, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Unlike the yellow metal, which has sharply extended its losses and is down for a fifth consecutive session today, the so-called black gold is defying the dollar’s strength. Both oil contracts are rising despite the growing pessimism about demand. Oil speculators must therefore be feeling that the current level of pessimism is unjustified and are thus reducing their bearish bets accordingly. In addition, the imminent full return of US refineries after their seasonal maintenance works should see

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