Technical Analysis

Oil nears final week’s low in three.6% drop

One other ugly day in oil

Extra discuss of OPEC cuts has carried out nothing to prop up oil as international financial issues hammer commodities and threat belongings.

WTI crude is down $2.22 to $54.94, simply above final week’s low of $54.75

The drop in oil is fueling a rally in USD/CAD, with the pair up 76 pips to 1.3250. The current excessive was 1.3263.

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