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CFDs on Crude Oil (WTI)
Short

Oil Short Idea

By Martinoz
Updated
snapshot
As you can see we go back to 50.20. There was 1st resistion at 01.12.16 & now we have support level here. if we will go lower we can get some long close squeeze to 49.00
Note
As well we have OPEC meeting at the end of week (saturday). No one know what can happened. May be we can see risk off selling. I heard a rumor that Russia starts to cut at March 2017 and may be other countries and opec members have same condition
Note
US API Weekly Statistical Bulletin
previous actual
Med Crude Stocks, Net Chg (Bbls) -0.7M -2.2M
Med Gasoline Stocks, Net Chg (Bbls) +3.3M +0.8M
Med Distillate Stocks, Net Chg (Bbls) +2.2M +4M

Its can be bearish Distillate data from EIA even more bearish
Oilshortsqueeze
Martinoz

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