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OIL on the rise despite rising Covid cases – US OIL Market Outlook – 12/01/2021

SquaredFinancial

WTI Crude ended a 4 day win streak, though holding above our $51.60 support level despite rising cases and concerns over shale production flooding the market, with $52.50 resistance level to breach, favoring further upside with $53.50 as the next resistance targets ahead of today’s API weekly inventory data.

Support: 52/ 51.60
Resistance: 52.50 / 53.50 / 54

SquaredFinancial Daily Market Outlook


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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/oil-on-the-rise-despite-rising-covid-cases-us-oil-market-outlook-12-01-2021
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