The FRED Report

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The Fred Report - Weekly January 6, 2020

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Note that we still expect stocks to pull back in February and not now, although this surprise may be the fundamental development we needed to recycle daily and possibly weekly stochastics. In terms of WTI prices, 63 to 67 is resistance and if that is exceeded a test of our target of 72/bbl is likely in the first part of the year, rather than the second part of 2020 as we originally thought.

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