West Texas OilShort
Crude oil - time for retracement?
Crude oil has reached the August highs again, pushed by productions cuts by OPEC countries and weaker dollar. Markets are now awaiting further cues on the US economy and potential interest rate moves. I think it is time for a small retracement in the price, this rally has to end for a day or two, potentially reaching 61.8 Fibonacci retracement traced back from March 2022. highs - around $82.48, which can be a valid target.
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