Crude Oil Technical Analysis – Focus on the ISM Manufacturing PMI ...Middle East

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Crude Oil Technical Analysis – Focus on the ISM Manufacturing PMI
Fundamental OverviewIn the latter part of last week, crude oil sold off without a clear catalyst. Some people have been citing the FT piece about Saudi Arabia being ready to abandon the $100 target but as Amena Bakr, senior research analyst at Energy Intelligence said, there was never a target and such a high price wouldn’t even make sense since it would just hurt demand. Some others have been citing the planned increase in production from December as the output hike planned for October has been delayed, but then again this has been known for quite some time. The rally in crude oil stalled since the last US S&P Global Manufacturing PMI where the index fell further in contraction. We got a br

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