WTI Oil Tests 50.83 After Mixed Crude Oil Inventories Report!

The U.S Energy Information Administration said in its weekly report today that crude oil inventories increased by 4.591 million barrels in the week ended September 15. Market analysts’ had expected a crude-oil to build 3.493 million barrels, from 5.888 million barrels a week earlier.

These mixed data is likely to keep the pair consolidation within 49.75/50.83 range, a break above 50.83 before FOMC is unlikely, anyway, above 50.83 would open 52.20, further upside, resistance comes at the 54.00 levels. Below 49.75 will aim 48.54 levels…

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