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Crude oil tests 50% midpoint of move up from 2023 low

The price of crude oil fell sharply yesterday breaking below the $75.70 level. That level was the swing hi from Friday, March 31. The price capped over that weekend on the back of OPEC+ production cuts. The low was at $79 on April 3.It took until April 19 to dip below the $79 level. In trading this week, the high price retested at $79 level reaching a high price of $79.18 before rotating to the downside. On Wednesday the price tested the 100 hour moving average on a corrective move higher and fo... Read More

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Content Topics

Crude

Tests

Midpoint

Move

From

2023

Forex

Posted: Apr 27 2023, 15:25

Author Name: forexlive

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