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WTI crude oil settles above the 200-day moving average for the first time since August

WTI crude oil settled above the 200-day moving average for the first time since August in a rare win for the bulls this year.The rally above the 200dma improves the technical picture for oil and doesn't leave much standing in the way to a return to the April high of $83.55. That will be a bigger challenge then the 200-dma, in my opinion. A break above it would indicate that a bottom was reached early in the year, or at least a wider range up to $95.Fundamentally, more Chinese talk about stimulus... Read More

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Content Topics

Crude

Settles

Above

200 Day

Moving

Average

First

Time

Since

200 day

August

Forex

Posted: Jul 24 2023, 19:07

Author Name: forexlive

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