Market Analysis of US CRUDE OIL on Thursday 19 October 2023

2023-10-19 18:22Fonte:BtcDana

US CRUDE OIL TECHNICAL ANALYSIS SHORT TERM VIEW      

 US CRUDE OIL has strong resistance   88.80 to 91.004 levels and it can fall towards  towards 80.60 dollar  levels  without touch 91 level positionally.Overall trend is negative  and inner calculations made reversal so it can fall sharply below 80.60 level.Overall downside it can fall sharply below 65 dollar target as well also because it made double zigzag pattern at level 65 downside.Inner calculations also made double zigzag pattern as shown in graph so 80.60 target can come very sharply 

 QUICK FUNDAMENTAL LOOK                                                                     

The spread between gasoline blendstock and crude oil prices have fallen to multiyear lows in early October amid low gasoline demand and the switch to winter-grade gasoline, the US Energy Information Administration reported Wednesday.

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