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video Crude oil has been sitting in an interesting position recently as it has been consolidating up against resistance around the 200-Day MA for two weeks. The significance of the 200-Day line was increased today as the purple 20-Day MA has fallen to converge with the 200-Day line. Together, the two lines represent a formidable near-term resistance zone ...
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Oil edged lower on Tuesday in a rangebound market as attention turns toward the upcoming OPEC+ meeting that will set the group’s supply policy. Brent futures traded around US$83 a barrel, while West Texas Intermediate was a little under $80. Futures have been in a narrow range, with implied volatility near lows last seen in 2019 according to one measure, ...