Update: Crude oil rallies strongly
Economies.com
2015-07-29 15:29PM UTC
Crude oil price rallied sharply affected by the US inventory data to breach 48.40 level and continues to rise above 49.00, which urges caution and monitoring the next four hours’ close according to 48.40 level initially, as holding above it will push the price for more rise and stop the recently suggested negative scenario.
Breaking 48.40 level is required to bring the price back to the bearish track.
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