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Is April's Crude Oil Rally Finally Over?

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The past few weeks have been relatively positive for crude oil prices despite a range of external pressures, including continuing inventory builds as reported by the EIA and a pending Doha meeting. However, despite the looming meeting, the downside pressures are building for the commodity and the $40 handle is likely to be back in focus shortly. A technical review of the commodity over the past few weeks shows the strongly linear bullish trend which has developed. Subsequently, the buoyant

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