KQMarkets

US Crude Oil - Long - Key Support Level

Long
OANDA:WTICOUSD   West Texas Oil
We see US Crude oil prices rising and following the recent upside momentum towards $60 but would not want to see US Crude Oil Prices fall much below the $55.5 support level towards $50. This could happen due to fears of an upcoming recession as indicated by inversion in the yield curve and an escalation of US/China trade tensions as well as excess supply.

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