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> Oil November 26, 2018 Weekly Analysis
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Oil November 26, 2018 Weekly Analysis

Exclusive Capital Ltd.

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Oil depreciated at $50.10 a barrel last week. Saudi Arabia Energy Minister stated last Thursday that his country does not intend to flood the oil market. In addition, the oil price collapsed following the U.S. President’s comments via Tweet expressing the desire that OPEC would not reduce oil production. In contrast, the OPEC meeting will be held in two weeks. The questions now are how OPEC and Saudi Arabia will respond. Major support is found at the 46.98 (28 August low) and resistance at the 55.14.

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Source: https://www.exclusivecapital.com/oil-november-26-2018-weekly-analysis/
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