Crude oil weakness likely to be short-lived

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Buck-denominated crude oil prices fell sharply on Friday, along with gold and silver after the slightly stronger US jobs report gave the dollar what looks like a temporary boost. In addition, doubts continued over the potential oil-freeze deal between large OPEC members and Russia, which may help explain why – as CFTC data showed – money managers and hedge funds had trimmed their bullish positions on WTI for the first time in six weeks and increased bearish bets by the most since November in

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