Crude oil price movement, August 05, 2020.

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The crude oil is now in a narrow range while CL is likely to decline to the 41.26 and 41.00 levels. Then, oil prices may test the 42.20 level. This scenario is unlikely to occur if oil prices drop to 40.31 level. CL will continue to dip and test the 39.89 level as its first target and the 39.11 level as its secondary target.

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