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Friday's Oil Rally Is Only Delaying The Inevitable

Discussion in 'Fundamental Analysis' started by Angela_Riplay, Aug 16, 2016.

  1. Angela_Riplay

    Angela_Riplay Forum Member

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    If Oil bulls weren't pushing their luck on Friday, they certainly are now as the commodity's price is precariously high given the circumstances. Specifically, after pushing through the 38.2% Fibonacci level and the 100 day moving average, oil has moved deeper in overbought territory which could be foreshadowing a severe[​IMG]

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