Crude Oil Maintains a Hold on the Sideways Range

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WTI crude oil prices continue to remain trading flat within the larger horizon. Price action gave back the short term gains made.

For the moment, oil prices remain firmly entrenched within the 53.70 and 51.87 levels.

With prices failing to push higher, we could see an eventual breakdown.

A strong close below 51.87 will no doubt see the 49.00 level coming into play.

But for the moment, the sideways range could continue, unless the breakout is driven by some strong fundamentals.

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