USOIL News

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Last Updated Date: 13 May 2021 @ 10:17 AM (UTC)
*Please note that all the dates are in GMT time zone

Oil was down Thursday morning in Asia over concerns about the ever-surging numbers of COVID-19 cases in India and after the U.S. released a draw of crude inventory.

The market still indicates short term peaking action, but yesterday’s selloff hit and tested 63.70 retracement support. A close under 63.70 alerts for a larger top/downturn and projects selloffs to 60.73 - 59.30.

 
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