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Bearish Pressure Dominating

OIL TECHS
  • WTI and Brent are trading lower today, extending their respective pullbacks from recent highs.
  • Brent (X0) has traded below $44.17, Aug 21 low and this has exposed the next major support at $42.10, Jul 30 low. A break would add to the developing bearish theme.
  • WTI (V0) yesterday traded through former support at $41.46, Aug 21 low. A break of the $40.00 handle would open $39.00, Jul 30 and also the next major support and bear trigger.

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