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WTI crude climbs above the 200-day moving average for the first time since August 2022

WTI crude oil has been flirting with the 200-day moving average all week and finally had a look above it, rising to $77.29. However it wasn't able to break the weekly high of $77.32 and has backtracked slightly to $77.06.In all, I wouldn't be comfortable calling that a technical break but it sets up next week to be an interesting moment in the crude oil market. We should hear soon about Saudi plans on whether to extend voluntary cuts through September so that could be the headline that does it... Read More

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Content Topics

Crude

Climbs

Above

200 Day

Moving

Average

First

Time

Since

200 day

August

Forex

Posted: Jul 21 2023, 19:29

Author Name: forexlive

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