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Crude Extends Pull Back on Higher US Dollar

OIL

Crude front month is extending its pull back to the lowest level since 13 October at new intraday low of $88.11/MWh, breaking through the first technical support level, weighed on by a stronger US dollar US dollar with the higher than expected US S&P global October manufacturing PMI at 50 vs 49.8 prior.

    • Brent DEC 23 down -1.8% at 88.24$/bbl
    • WTI DEC 23 down -2% at 83.8$/bbl
    • WTI-Brent down -0.14$/bbl at -4.44$/bbl
  • BRENT TECHS: (Z3) Bull Cycle Still In Play Despite A Pullback
    • PRICE: $90.08 @ 06:40 BST Oct 24
    • SUP 1: $88.15/83.44 - 50-day EMA / Low Oct 6 and bear trigger
    • SUP 2: $82.80 - 50.0% retracement of the May 4 - Sep 28 bull run

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