Oil Price Forecast: 100-Day MA Provides Support to WTI but Will it Last?

The daily timeframe has seen WTI find support at the 100-day MA around the 81.41 mark before bouncing aggressively in the early part of the European session. However, we have since retreated quite significantly, shedding over 1% of recent gains.Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances.

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