Market News & Analysis
Oil Sub $47 As OPEC Awaits Russia’s support
Fiona Cincotta March 5, 2020 11:11 PM
Levels to watch
Oil is trading down 0.3% on the day. It remains below its 50 sma, 100 sma and 200 sma on the 4 hour chart. The bears are in control.
Immediate support can be seen at $46.34 (today’s low) prior to 43.85 (low 28th Feb).
On the flip side resistance can be seen at 47.55 (today’s high) prior to $48 (50 sma) and $48.75 (high 26th Feb, 3rd March).
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