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Crude oil bouncing after testing 100 day moving average

The price of WTI crude oil futures dipped to a new post OPEC+ production cut low reaching $76.72. That took the price briefly below its 100 day moving average at $76.85, but momentum cannot be sustained in the price has since rebounded higher. We are currently trading to new session highs at $78.23. That's up about $0.85 on the day.On the topside, the gap from the OPEC+ production cut meeting over the weekend of April 1, came between $75.70 and $79.00. The $79.00 level is also near the 50% of t... Read More

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Crude

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Testing

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Posted: Apr 21 2023, 13:33

Author Name: forexlive

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