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[QUOTE="Mikhail Kurakin, post: 196982, member: 2368"] WTI Crude Oil: consolidation near record highs Current trend The prices for WTI Crude Oil show near-zero dynamics, holding close to record highs and the level of $74 per barrel. The quotes are still moderately supported by the fact that the oil stocks in US warehouses are declining. At the same time, data from OPEC indicate a growing oil shortage in the market, in connection with which the cartel may decide to increase quotas for oil production. The next meeting of the organization should take place today. As the report from the US Department of Energy published yesterday showed, stocks of oil and petroleum products in the country for the week of June 25 decreased by 6.718M barrels after falling by 7.614M barrels over the previous period. Analysts' forecasts assumed a decrease in reserves by only 4.686M barrels. At the same time, gasoline inventories rose again by 1.5M to 241.6M barrels, while experts expected a reduction of 1.2M barrels. Support and resistance On the daily chart, Bollinger bands are rising moderately. The price range is inclined to reverse into a horizontal plane, reacting to the flat nature of the trades of the last days. The MACD indicator is going down, maintaining a poor sell signal (the histogram is below the signal line). After a short decline, Stochastic is trying to reverse upwards again, reflecting the appearance of the “bullish” impulse on Tuesday. Resistance levels: 74.00, 75.00, 75.68. Support levels: 73.00, 71.80, 71.00, 70.00. [img]https://media.clawshorns.com/uploads/files/c311719ec82cf4fc8822f42877067db1.png[/img] [img]https://media.clawshorns.com/uploads/files/2a8b1cc9e4b127210985e6604ca3393e.png[/img] [/QUOTE]
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