Crude Oil WTI Analysis and News 03242023: Slow progress of refilling SPR

Описание: Crude Oil WTI analysis today : Slow progress of refilling SPR.
Technical Analysis and Market News video on Commodities from Trading Central

00:00 Crude Oil WTI Market News
00:24 Crude Oil WTI Technical Analysis
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• Crude Oil WTI Market News:
On Thursday, Crude Oil WTI dropped $1.40 to $69.46 a barrel.
U.S. Energy Secretary Jennifer Granholm said refilling the country's Strategic Petroleum Reserve (SPR) may take several years.
Later today, oil field services company Baker Hughes will report the latest changes in rig counts for the U.S. and Canada.

• Crude Oil WTI Technical Analysis:
On Friday, Crude Oil WTI rebounded 0.5% during the European trading session.
Crude Oil WTI rebounded from $69.05.
The RSI is above the neutrality level at 50.
The intraday resistance level at $70.70 should limit the upside potential.
The oil prices are likely to return $69.55 and $69.05.
A break above $70.70 should bring a bounce to $71.50.

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