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Market Review - 21st July 2008
With economic concerns in the USA one of the biggest oil consumers in the world, we are now seeing a more conservative approach in terms of energy consumption. As a result of that, we have seen a dramatic decrease in crude oil last week, buoying the indices market. As we discussed in last week’s report, it would appear that the technical indicators that were likely to provide support to the indices have done so. However, where is crude going in the long run, and how will it affect the indices overall?
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