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MIG Bank

MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

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Crude Oil – Continued Reversal

Crude oil continues its move higher. The break of the hourly resistance at 42.22 (28/07/2016 high) and 43.39 (26/07/2016 high) has confirmed deeper buying pressures. Hourly support is given at 39.19 (03/08/2016 low).

In the long-term, crude oil is now recovering from its sharp decline and the signs of recovery are now strong. Strong support lies at 24.82 (13/11/2002) while strong resistance at 50.96 (09/10/2015 high) has been broken. Crude oil is holding way above its 200-Day Moving Average. Expected to reach 60 before year-end.

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