WTI was seen to recover from $42.68 with sluggish risk tones. Stay tuned for Manufacturing PMIs from China and the US, ahead of the API data.
While the market looks for solid data, a bearish inverted hammer was observed for oil price charts indicating a possibility for price pullbacks. The 50 day SMA has almost crossed the 200 day SMA..forming a golden cross (a lagging indicator) which is long term bull market indicator (its first in 9 months).
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