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Crude Oil Meets Support

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Mar 31, 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 lost 2.06% ahead of the American Petroleum Institute's weekly inventory report. Thanks to this drop, light crude closed another day under $39, but reached important support zone. Will it encourage oil bulls to act in the coming days? Yesterday, crude oil extended losses after the market’s open as concerns over another increase in crude oil inventories to record highs

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