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Crude Oil Forecast And Technical Analysis Nov 15th

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

Crude Oil Forecast And Technical Analysis Nov 15th

We have mentioned in our article published yesterday, closing above 56.50 will carry the price towards 55.40 and 54.70.

54.79 has been tested yesterday and the Crude Oil is being priced 55.02 currently.

Crude oil prices fell yesterday as U.S. industry inventory data weighed on sentiment and markets noted a more downbeat forecast for demand in 2018 by the IEA overnight. OPEC and IEA are living in a different world. While OPEC in their monthly report expects to see a larger oil supply deficit in 2018, the International Energy Agency (IEA) sees the appetite and an oil market oversupplied in the first half of 2018. Soon we will see who is right and who is wrong.

Technicals:

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This article was written by Emre Tutucu for http://www.fxters.com/crude-oil-forecast-technical-analysis-nov-15th/ on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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