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[QUOTE="Mikhail Kurakin, post: 197874, member: 2368"] WTI Crude Oil: oil prices are slightly strengthening Current trend Yesterday, prices for WTI Crude Oil rose slightly, and today, during the Asian session, they continue to develop upward dynamics, renewing local highs since July 14. Yesterday, the data on the dynamics of stocks of oil and petroleum products in the USA provided moderate support to the quotes. However, more confident growth was hampered by the released minutes of the US Federal Reserve, which for some time contributed to the strengthening of the position of the American currency. The report of the US Department of Energy reflected a decrease in oil reserves in the United States for the week of July 23 by 4.089M barrels after an increase of 2.108M barrels over the previous period. Analysts had expected negative dynamics in reserves but hoped for only 2.928M barrels. Gasoline stocks fell by 2.25M barrels, while total US oil production fell by 200K barrels per day to 11.2M barrels per day. Support and resistance On the daily chart, Bollinger bands are showing sideways dynamics. The price range narrows slightly in response to the ambiguous nature of trades in recent weeks, but its width remains sufficient for the current price dynamics. The MACD indicator is growing, maintaining a poor buy signal (the histogram is above the signal line). Stochastic, having reached its maximum values, is trying to reverse into a downward plane, signaling in favor of the development of a corrective decline in the ultra-short term. Resistance levels: 73.00, 74.00, 75.00, 75.68 Support levels: 71.80, 71.00, 70.00, 69.07. [img]https://media.clawshorns.com/uploads/files/ed32da2409cfb2c8a84db34b99d39053.png[/img] [img]https://media.clawshorns.com/uploads/files/f901561d09e6eb7e9dfd11a6e2df950a.png[/img] [/QUOTE]
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