In the energy sector, we have noticed a possible speculative short on crude oil as we expect oil to depreciate by -1.60% by the next week. In our opinion, sellers might put pressure on the actual price particularly near the intermediate resistance which might limit an upside move to no more than 6.80% from the last daily closing price.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.