WTI Crude Oil hit the $102.00 resistance yesterday on the news that Iran stopped delivering oil for 5 European countries.
However, the news was quickly faded and the price consolidated around $101.50 until the Crude Oil Inventories at 15:30 GMT. The
The trend for today was bearish and the $101.30 level was the most important as the price broke and retested it. There are high chances of a broader correction in the future days, targeting the zone between the Fibonacci retracements of 38.2%($100.37) and 61.8%($99.30).
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