USOIL News

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Last Updated Date: 20 April 2021 @ 9:15 AM (UTC)
*Please note that all the dates are in GMT time zone

Oil was up Tuesday morning in Asia, with a weaker U.S. Dollar and expectations of another draw in U.S. crude oil supplies supporting commodities. However, rising numbers of COVID-19 cases globally capped gains for the black liquid.

Yesterday’s bull reversal / rebound off 62.67 helps reinforce ideas for a short term trend shift to the upside. Look for attempts to extend rallies. A close over 65.00 should spark rallies to attack the previous swing high peaking levels 66.20. A close under 61.60 is bearish and suggests a selling wave to new lows and possibly 57.40.

 
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