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OIL heading higher amid risk-on sentiment – US OIL Market Outlook – 18/12/2020

SquaredFinancial

WTI Crude is holding on between $48/$48.50 support/resistance levels after confirming a 4 day consecutive streak in the green, as investors await on U.S. stimulus developments while tighter Covid-19 restrictions on travel and surging infections continued to weigh down on demand on risk sentiment. Markets are currently very sensitive to headlines, with $48/$48.50 support/resistance level to direct today’s session.

Support: 48 / 47.60
Resistance: 48.50 / 49

SquaredFinancial Daily Market Outlook


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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/oil-heading-higher-amid-risk-on-sentiment-us-oil-market-outlook-18-12-2020
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