KQMarkets

WTI Crude Oil - Long - Post US/China Trade Talks

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OANDA:WTICOUSD   West Texas Oil
We see WTI crude oil prices moving higher and challenging the $55.6 resistance level despite China indicating that more talks were needed to confirm the partial trade deal agreed between the US and China on Friday. This has seen oil drop today after Friday's gains but we still see prices moving higher above the support level at $50.58 whilst expecting further downside if this level is breached.

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