Crude Oil Technical Preview for 7th January 2015

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Crude Oil starts the year on a bearish note, eyeing $41.7 There seems to be no respite for Crude Oil futures which continued to weaken into the New Year and breaking below the $50 handle over the past few weeks and now firmly poised to dip down to the next major support level of $41.69 (or $41.7). Crude Oil continues to be pressured by the global supply glut, rising US Dollar and slowing demand...

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