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Commodities

Crude Oil Price Loses Momentum as Selling Pressure Returns

Guavy AI Editorial Team
Instruments
Oil
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Crude oil prices experienced a decline during their latest intraday trading as selling pressure returned.

The price was unable to sustain its gains after reaching resistance at the EMA50, exposing it to renewed selling pressure that forced it to halt its previous advances.

This movement comes amid the dominance of a short-term bearish corrective wave, which continues to exert downside pressure on the price action.

A decisive break above the moving average and sustained trading above it remains essential for improving the technical outlook and reversing the bearish scenario.

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