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WTI Crude Oil Pulls Back Off Session Highs to Trade at $90
The WTI crude oil price on Friday rallied to trade at a London session high of about $91.28 before pulling back to $90.00 in the New York session. The oil price appears to be trading within a descending channel formation in the 60-min chart. The light crude oil has now fallen to trade below the 100-hour moving average line. Friday’s late pullback prevented the price of oil from ascending into the overbought levels of the 14-hour RSI. WTI Crude Oil Fundamentals Overview From a fundamental perspective, the WTI crude oil is trading at the back of a relatively busy period in the US market. On Friday, the preliminary US ... (full story)
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- Posted: Sep 22, 2023 3:49pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 160
