Now Crude oil movement is very dull and going between 2850 to 3120 due to the federal news are not so strong. Overall trend is being down for next two weeks. Crude oil moving averages and Technical indicators are showing STRONG SELL.
Also US Consumer sentiment is falling for the whole month. It makes oil hovers nearly six month low. Soon we can expect a year low because of funds pull back from Permian as US shale oil firms are going into excessive production
Traders are advised to be quiet or take SELL for positional. Intraday traders can’t find a big shot at any direction for next 5 days.
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