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Oil remains strong amid global economic recovery – US OIL Market Outlook – 06/07/2020

SquaredFinancial

Crude hovers above $40 pbl on the back of Asian shares trading at four months peaks as investor sentiment turned positive counting on a revival in Chinese activity to sustain global growth even as 32 US Stated record soaring Coronavirus cases . Better than expected economic data could lift WTI crude above $41 with $41 as the first target on an hourly close above $40.50.

Support: 40/ 39.27
Resistance: 40.5/ 41 / 41.5

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/oil-remains-strong-amid-global-economic-recovery-us-oil-market-outlook-06-07-2020
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