Sat, Apr 01, 2023 @ 05:15 GMT
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US Oil Consolidates Gains

WTI crude treads water as US crude inventories show a smaller buildup. The price action is grinding last December’s high of 82.50 as its breach might trigger an extended rally in the medium-term. Instead, a drop below the immediate support at 80.30 has put the bulls on the defensive. The previous swing low at 82.50 sits on the 20-day moving average and is a key level to keep the price afloat. A bearish breakout would shake out recent buyers and send the price to the psychological level of 75.00.

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