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EIA United States Crude Oil Stocks Change

Today at 3:30pm UK time. The EIA Crude Oil Stocks Change Indicator measures the number of barrels of commercial crude oil held by US companies. It is one of the indicators affecting world oil prices. F:-3.188 M, P:-4.856 M. #UK Oil may test 63.

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UK Oil - Eases from Two Month High Near $65 on China Export Data

 

 
After meeting resistance at the key $63 level for several weeks, UK Oil has poked its head above this level in the last three weeks or so attempting to maintain a break higher. In doing so it has reached a two month high near $65 in the last 48 hours before easing just a little, but remaining well above the $63 level. During this time, it has found some support at the $63 level which bodes well for it to remain above there.
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Market Recap: 25 - 29 November

 

 
On Tuesday last week we covered UK Oil which continued to trade above the key $63 level before dropping sharply back towards $60 to finish the week. After meeting resistance at the key $63 level for several weeks, UK Oil had poked its head above this level in the last week or so attempting to maintain a break higher. During last week it had also started to receive some support at the $63 level however this quickly gave way as excessive selling pressure forced it lower.
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UK Oil - Moves to Two Month High above Key $63 Level on Trade Wars Optimism

 

 
After meeting resistance at the key $63 level for several week, UK Oil has just poked its head above this level in the last week or so attempting to maintain a break higher. In the last two days it has met some support at the $63 level which bodes well for it to remain above there. Earlier in the month, UK Oil moved well up to resistance at $63 off support at $60.
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UK Oil - Rises Steadily towards Key $63 Level on Trade Wars Optimism

 

 
In the last week or so, UK Oil has moved higher back above the key $60 level looking higher towards another key level in $63, before easing a little in the last 24 hours. It has now traded between $58 and $63 for the most part of the last two months as it looks likely to test the resistance at $63 again. Prior to its recent steady move higher it had fell sharply from a three month high above another key level in $68 which has provided some resistance in the last three months, which it reached after an incredible surge higher.
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EIA United States Crude Oil Stocks Change

Today at 3:30pm UK time. The EIA Crude Oil Stocks Change Indicator measures the number of barrels of commercial crude oil held by US companies. It is one of the indicators affecting world oil prices. F: 2.015 M, P: 9.281 M. #UK Oil may retest $60

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UK Oil - Settles Below Key $60 Level on Trade Deal Caution

 

 
In the last week or so, UK Oil has edged higher back above the key $60 level before dropping back below to start this week. It has now traded between $58 and $60 for the most part of the last two weeks after falling sharply back to this popular trading range in the three weeks prior. This fall started from a three month high above another key level in $68 which has provided some resistance in the last three months, which it reached after an incredible surge higher.
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Valutrades Market Blast Technicals 8 October 2019

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