Volatility has been observed in oil prices as it moves in tandem to changes in trader’s risk appetite due to events such as US stimulus negotiations, US election woes and Hurricane Delta in Mexico. It has certainly been an eventful time!
Crude oil price action was seen to catch a bid off the $37 handle over the last 2 trading sessions due to Hurricane Delta in Mexico and pushed the commodity above the $40 mark. But as the 50-day moving average could not be claimed, selling pressure has seen remained.
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