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Oil Market News
Crude Oil (NYMEX) (G5) Intraday: bullish bias above 54.3.
Pivot: 54.3
Most Likely Scenario: Long positions above 54.3 with targets @ 58.5 & 59.3 in extension.
Alternative scenario: Below 54.3 look for further downside with 52.5 & 50 as targets.
Comment: A support base at 54.3 has formed and has allowed for a temporary stabilisation.
Oil Chart
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