Crude analysis as of 27 aug
Even after the bullish inventory news (-4.689M) crude did little yesterday. It did form a higher high but the momentum stayed mixed. At this point we should look at dips as buying opportunities. It is a choppy market which is just grinding upwards in a very slow pace.
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A Great opportunity today will be to buy some where near 42.60$ to take it back to 43.50$ - 44$ handle. Again holding positions for long is a concern. Book profits when available.
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A Great opportunity today will be to buy some where near 42.60$ to take it back to 43.50$ - 44$ handle. Again holding positions for long is a concern. Book profits when available.
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