Яндекс.Метрика WTI crude oil settles at $59.09 – Technologies of the future for life!
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WTI crude oil settles at $59.09


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Closes up $0.62 or 1.06%

As OPEC meets and looks to keep production cuts for 9 month citing supply concerns. That’s good and bad (bullish/bearish). Bullish as they will look to maintain production at current levels for an extened time period. Bearish because they have to to sop up supply. 
 
The price up sup $0.62 on the day or 1.06%, but also off the high which extended up to $60.28 (and above the $60 level for the first time since May 23rd).  
Technically, the contract is closing back above both the 100 and 200 day MA at $58.81/82.  That level will be a barometer for bulls and bear this week.  The 50% midpoint of the move down from the April 2019 high comes in at $58.66.

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