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Oil might follow equities lower – US OIL Market Outlook – 12/03/2021

SquaredFinancial

WTI Crude oil ended yesterday’s session in the green, supported by economic recovery optimism as equity markets surged to all-time highs (Dax-30, Dow Jones Industrial Average) fueled by big tech. Baker Hughes US oil rig count data to be released today. Technically, $66.35 resistance level is capping higher prints, favoring a pullback towards $65 support level.

Support: 65 / 64.40 / 63.85
Resistance: 66.35 / 68

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/oil-might-follow-equities-lower-us-oil-market-outlook-12-03-2021
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