The price of crude has been under immense pressure since Trump announced fresh tariffs on Chinese imports leading to the U.S. oil benchmark suffering its biggest one-day fall in more than four years. Drop has caused Oil to reach 4hr TL at which there seems to be some resistance.. Upside potential labelled on chart, however should Oil continue to drop could see a break and retest moving further down towards 51.58 region.
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Fundamental concerns outlined drove down oil prices further, no valid entry was observed.
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