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Crude oil trading marginally higher to start the trading week. Tests key hourly MA.

  • August 25, 2024
  • -FCHFX

August 25, 2024 at 11:07PM
Crude oil is trading up around $0.26 or 0.36% that $75.16. The rise comes after increased tensions in the Middle East.

Technically, looking at the hourly chart the 200 hour moving average comes in at $75.20 (green line on the chart above). Getting and staying above that level would have traders targeting the 50% of the move down at $75.77. Key level for the buyers and the sellers to start the new trading week.

This article was written by Greg Michalowski at www.forexlive.com.

Crude oil trading marginally higher to start the trading week. Tests key hourly MA.
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