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Crude Oil Prices Fall from the Key Resistance

Crude Oil: Collateral Damage Continues, Oversupply Concerns Ignite

(Continued from Prior Part)

Price channel

WTI (West Texas Intermediate) crude oil futures contracts for November delivery fell for the second day. Crude oil prices fell from the resistance of $47 per barrel. Prices are trading within a downward price channel. The massive gasoline buildup is weighing on crude oil prices.

Support and resistance

Bulls say that crude oil prices could test the resistance of $50 per barrel due to long-term...