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Oil Market News

Crude Oil (NYMEX) (H5) Intraday: under pressure.

Pivot: 46.7

Most Likely Scenario: Short positions below 46.7 with targets @ 44.35 & 43.7 in extension.

Alternative scenario: Above 46.7 look for further upside with 47.8 & 49.1 as targets.

Comment: As long as 46.7 is resistance, likely decline to 44.35.

Oil Chart

 

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