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Hello everyone, today XM Forex will bring you "[XM Foreign Exchange Market Analysis]: Crude oil futures prices have stagnated, and the future trend is bearish." Hope this helps you! The original content is as follows:
XM Foreign Exchange APP News - During the European trading session on Tuesday (October 7), WTI crude oil futures prices fell. Short covering had previously pushed prices back to $62.12 on Monday, but the gains were capped. Currently, crude oil prices are declining slightly, with the support level at $60.40. The more important support level is the daily low of $59.74. If bearish momentum resumes, this level may face a test. Earlier this week, crude oil prices found slight support after OPEC+ agreed to increase production by only 137,000 barrels per day from November, an increase that was lower than market expectations. Analysts had previously worried about a sharp rebound in supply, but the restrained increase showed that OPEC+ remained cautious, especially amid forecasts of a global crude oil glut in the fourth quarter. Last week
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