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Oil Trading Alert: Crude Oil Erases Gains

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Dec 1, 2015.

  1. Sandra S.

    Sandra S. Forum Member

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    Trading position (short-term; our opinion): Short positions with a stop-loss order at $54.12 and initial (!) target price at $35.72 are justified from the risk/reward perspective. On Friday, crude oil lost 3.31% as a stronger greenback weighed on the price of the commodity. Thanks to these circumstances, light crude moved away from its key resistance area and closed another week below it. Will this event encourage oil bears to act in the coming days? On Friday, the USD Index extended gains as

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