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Forecast update for crude oil -04-08-2025
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Forecast update for crude oil -04-08-2025
Aug 4, 2025 6:56 AM

The price of (crude oil) continued its decline in its last intraday trading, after reaching the resistance of EMA50 in its early trading, after its attempt to offload some of its clear oversold conditions on the (RSI), which forced it to bounce lower, surrendered to the negative pressure, affected by a negative technical formation on the short-term basis, which is represented by the head and shoulders pattern.

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