Natural Gas and Oil Forecast: Is the USOil Downtrend Set to Continue Below $70?
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The article discusses the potential continuation of a downtrend in U.S. oil prices, particularly focusing on whether prices will fall below the $70 mark. It includes technical analysis and key levels to watch.
November 11, 2024 | 7:00 am
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The article suggests a potential continuation of the downtrend in U.S. oil prices, which could impact the United States Brent Oil Fund (BNO) if prices fall below $70.
BNO is directly linked to U.S. oil prices. A continuation of the downtrend below $70 would likely negatively impact BNO's performance, as it tracks the price of Brent crude oil.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80