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Oil Market News

Crude Oil (NYMEX) (G5) Intraday: under pressure.

Pivot: 47.8

Most Likely Scenario: Short positions below 47.8 with targets @ 44.5 & 43 in extension.

Alternative scenario: Above 47.8 look for further upside with 48.8 & 49.65 as targets.

Comment: The RSI is capped by a bearish trend line.

Oil Chart

oil chart

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