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Video: Outlook & Key Levels for Crude Oil as of May 15, 2019

May 15, 2019 at 12:38 by Vladimir Vyun

In the present video, Phil Carr from The Gold and Silver club discusses crude oil as of May 15, 2019. Phil starts with explaining factors that were dragging crude down recently, the trade war between the United States and China specifically. He then talks about key levels for the commodity, including the range in which crude is likely to trade this week. The $60 level, being a round number, is psychologically important for traders. If oil falls below it, the fall of prices will likely accelerate. Phil concludes the video with discussing factors that will affect crude later this week, like the report on US crude oil inventories on Wednesday and the US oil rig count on Friday.

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