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Crude Stages Short-Covering Bounce

Discussion in 'Technical Analysis' started by Kaitlin, Dec 15, 2015.

  1. Kaitlin

    Kaitlin Forum Member

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    Crude prices have bounced sharply off their lows after both contracts fell to their lowest levels since December 2008 earlier this morning. The bounce looks to be driven first and foremost by profit-taking given that prices were severely oversold anyway and as WTI reached a key support level near $34.50[​IMG]

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