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Oil tumbles further, $70 within reach

Oil tumbles further, $70 within reach
At the start of April, oil looked like it would be on for a rip higher after the surprise OPEC+ production cuts. And while that is still a factor in play, oil has instead fallen off quite significantly from that particular gap higher at the time - by over 13% to be exact.The drop came as oil bulls failed to clinch a breakout above key technical levels with the 1 December high at $83.32 acting alongside the 200-day moving average (blue line) to keep a lid on price action. I would argue that the l... Read More
Posted: May 3 2023, 08:23
Author Name: forexlive
Views: 102563

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