Oil News: Oil Outlook Hinges on 200-Day MA as Supply & Demand Forces Offset

Bullish Setup Awaits Catalyst as Dip Buyers EmergeThe set up is there for an upside breakout, but the move needs a good catalyst to get it going. Traders are also coming in on the dips which suggests real buyers have been coming in since the first week of the new year.Kazakhstan Production Resumption Threatens Price SupportOvernight, attention shifted to the resumption of supply from Kazakhstan. According to reports, the country is poised to resume production from its biggest oilfield, its energy ministry s ...