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OIL heading higher ahead of OPEC+ meeting – US OIL Market Outlook – 03/12/2020

SquaredFinancial

WTI Crude held onto gains, after failing to print an hourly close below $44 pbl, trading in a range between $44 and $46 as investors await today’s OPEC+ meeting decision where a gradual relaxation of production cuts seem to be the most likely scenario. Technicals favor another attempt towards $46 resistance level once $45 resistance is confirmed as support.

Support: 44 / 43.50
Resistance: 45 / 46

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/oil-heading-higher-ahead-of-opec-meeting-us-oil-market-outlook-03-12-2020
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