🛢️ Oil is on the move 🛢️
Fueled by falling US inventories and Chinese stimulus, crude oil is on the move. This recent price action has enabled WTI to break through the resistance level we had been closely observing, which was around $75 per barrel. With this newfound positive momentum, all eyes are now focused on the crucial psychological level of $80 per barrel, with the potential for further upward movements targeting the resistance of the price range that constrained price action for the majority of 2023, approximately at $83 per barrel.
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