OILUSD
Added 2023-11-23 14:29:57 +0000 UTCOil continues its pull back to the strong support level of $70.70, just at the 200 Day MA on the weekly chart.
As I said in my last update here, this has been a strong support level in 2023.
If the price of oil threatens to go lower than this level, I feel that suppliers will get involved and start reducing the number of barrels produced each day to maintain a stable price.
