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Oil nears the 200-day moving average ahead of the weekly EIA inventory report

Oil nears the 200-day moving average ahead of the weekly EIA inventory report
WTI crude oil is trading just shy of $77 ahead of this week's EIA inventory report at the bottom of the hour.The consensus on the data:Crude -2440KGasoline -1577KDistillates +460KThe API data released late yesterday:Crude -797KGasoline -2800KDistillates -100KAfter the API data, you would expect the market to be positioned lower than the consensus. Technically, last week's high of $77.33 offers resistance, along with the 200-day moving average at $77.24.Oil hasn't traded above the 200-dma since A... Read More
Posted: Jul 19 2023, 14:09
Author Name: forexlive
Views: 080980

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