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16 Mar 2015
Oil down over 2% in early Asia
FXStreet (Bali) - Oil contracts for April delivery are taking a hit in early Asian trade, down over 2%, printing fresh lows at 43.95 after a 44.94 close last Friday.
The renewed bearish momentum in Oil has allowed prices to get into close contact with late January trend lows at 43.65, with technicals having worsened significantly after the breakout of 47.50, triggering plenty of stops in the process.
The renewed bearish momentum in Oil has allowed prices to get into close contact with late January trend lows at 43.65, with technicals having worsened significantly after the breakout of 47.50, triggering plenty of stops in the process.