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Crude Oil Price in Tight Range – Rising Wedge Suggests a Decline Is Possible

From investingcube.com

Crude oil price declined by almost 1% as investors worried about global demand as the number of coronavirus infections continued to rise. Brent, the international benchmark, is down by 0.75% to $44 while West Texas Intermediate (WTI) is down by more than 0.80%. The biggest concern for crude oil market today is the rising tensions between the US and China and the rising number of coronavirus cases in several countries. As I have written before, the US ordered companies to stop doing any business with Tik Tok and WeChat. And, according to Reuters, the country is in a process of ramping up pressure against other Chinese ... (full story)

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  • Category: Technical Analysis