caugfour

Key resistance held for Oil, bouncing down again

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NYMEX:CL1!   轻质原油期货
As previously indicated, Oil was testing resistance just below $78 and that level held firm. Seems the negativity around demand and the economic slow down is winning the short term battle over tight supply. Fundamentally speaking I'm bullish into Q3 2023 for oil as people wake up to the supply and inventory issues. But for now we will have to let this correction play out. As always have fun! Do your homework, trade at your own risk.

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