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Thread: CL/Crude Oil

     
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    2021-05-02   23:19
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    { Technical Analysis Of The CRUDE OIL Pair (Monday May 2) ​ANALYSIS }

    Last trading week, we see that buyers rewrote the new maximum a little, but it did not work out for a long time above the 64.30 mark, we can say that they made a false breakout above and now the price is again trying to gain a foothold below the previous local level at 63.65, despite the fact that it is below during that time there was an empty place for a fall, so it is quite possible from this formation that quotes will go down again and targets may become 62.55 with a possible continuation.
    Attachment 369977
    Despite the decline in oil prices (in short-term trading), the overall picture shows growth (see figure). On Friday, the result of the decline in value was such news as "a slowdown in business growth in China, tough situations with coronavirus in India, as well as in other countries including Japan and Brazil." Sharp demand for the American currency. But what happens next? So far, the price of black gold is $ 63.48 per barrel. It's strange to talk about technical characteristics, but so far the uptrend line shows an active growth in oil prices. The general range at which oil varies is $ 63-64.
    On the four-hour chart the price was able to form so much a fractal to the north, but you need to wait for the opening of the trading day. And the price will most likely be able to continue northward to the level of this month's high. And of course, as an alternative, the price will be able to continue to reduce oil to the level of the middle line to the level of 62.30 approximately, and already at it, look where the price will go. And the most important thing is that oil is now showing a northern direction in stochastics.
    Attachment 369978

    2021-05-06   16:35
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    { Technical Analysis Of The CRUDE OIL Pair (May 6) ​ANALYSIS }

    Fundamental Analysis-:
    If we remove the news on Iran, then others immediately pop up, today it became known that Saudi Aramco will reduce selling prices for consumers from Asia, and all due to the case is associated with a worsening epidemiological situation in the region. So, in India, at the end of the past day, another anti-record was set for the number of cases and deaths from coronavirus infection: 412.2 thousand new cases and 3.98 thousand deaths were detected, as a result of which the ****** authorities agreed to introduce a nationwide lockdown in the coming days. In general, speculators are not in an easy situation, on the one hand, the market is under threat, on the other hand, their desire to play on rumors, they say there is a vaccine, something to fear, and on the cries of states about the rapid recovery of the world economy.
    Technical Analysis-:
    Still, they are trying to build a movement within the ascending channel. We managed to test the horizontal resistance level 66.30-40 and now the correction is fully worked out to the horizontal level 65.20-30 . It remains to either resume the upward movement, or move inside the channel for a decline and test the lower boundaries of the upward channel. It is preferable for the buyer to get out and consolidate above the tested resistance level 66.30-40 , but let's see how possible it will be after exiting both the upper border of the channel. The option to get a decline on the exit from the ascending channel with the breakdown of the lower border is also possible, but here the main obstacle is the horizontal support level 62.80-85.
    Attachment 371778Attachment 371777

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    2021-05-03   20:59
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    CL# ANALYSIS

    Wishing well mt5 members ! Pay attention to M30, you can see how the formation of an unfolded triangle is going on, from here and the movement as a result can turn out from one side to the other, if my assumption turns out to be correct, then today or tomorrow we can see 62.25 -62.05.
    Attachment 370455
    Again, if there is no change, in the form of an additional injection of volumes into the market, I think it may appear after the price breaks through 65.15-65.45, and consolidate higher, without confirmation, this may be a false breakout. It remains to wait about an hour or less, the growth cycle may end, and sales will come in its place.
    I believe that we are now moving along the waves to the level of about 64.78 to update the local extremum. We also had a breakdown of the trend line, respectively, the reversal of the correction of orange waves. True, the price tried to cover up its tracks and also sawed a little on the breakdown.
    I also want to agree on the Fibonacci targets, this is 300% according to the setting impulse TF m15. I did not consider 261% - although it has a probability higher than 300, only because there is a probability of updating the extreme and also entering an important horizontal level at the end of the third wave of the impulse.
    Now it is not worth doing anything, Chicago opens in a minute, so simply securing the position will be enough.
    Attachment 370456

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    2021-05-05   16:26
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    Quote Originally Posted by Gabriejoe     
    CL# ANALYSIS

    Good evening, colleagues! At the moment, there is still an uptrend in the hourly period for CL. As you can see from the chart, the price is above the 1: 8 angle, which indicates some pressure from the bull market, and at the same time, the pair is still holding above the 50% support level of 50.80, which also confirms the upward trend direction. In the near future, after a certain correction,
    The market is positive and, as it were, with such fervor and 70.0 not to be tested. Although there are not so many reasons for joy and the problems are all old. Only now I'm not sure that the price will go down from the current ones. For the second wave, it is too long, which means this is a reason for growth. By the way, the ruble will then be able to fulfill the rosy dreams of the patriots and go to 71-72 with a large increase in slurry. But this is purely in theory. Fundamentally, I see no reason to be above 62-63 here due to increased production. The last fifth wave goes according to the elders if we make a new high and it will be short. Oil prices rose after industry data showed that US crude inventories fell much more than expected last week, reinforcing optimistic outlooks on fuel demand in the world's largest economy.
    Black gold has got out of the ascending channel and at the moment has caught support at the level of 66.00. If oil remains above this price, then I expect further growth to the April level of 67.79. As an alternative scenario, I consider fixing the rate below 66.00, which will open the way to the southern zone: 62.90 - 62.05.
    Attachment 371328
    Oil technical analysis
    The price is inside the ascending channel and since the growth is taking place, then I expect that the pair will continue to grow to the upper border of this channel, this is to the level of 66.58. And this afternoon, there could have been a decline to the uptrend, but the price seemed to turn around for a decline, but did not learn to go down and the price continued to move up. That is why I expect that the growth will continue and the price goes up to the upper border of this channel, this is to the level of 66.58. After reaching the goal, it is possible that the pair will turn around and begin to move down. And it is quite possible that the pair will be able to go down to the lower border of this channel, this is to the level of 62.72.
    EU member states to ease the current restrictions on entry to the EU. This decision is justified by the expansion of the vaccination company.
    Why then does oil go north if the situation in the world is improving? Analysts expect that the increase in the number of tourist trips to the regions of Europe will stimulate the demand for oil products.
    Attachment 371337
    Until today we have not come out above the resistance level of the upper border of the rising wedge. Since they are not trying to test the upper border of the ascending channel, I again tend to move inside the ascending wedge. Also, the horizontal resistance level 66.30-40 cannot be tested this way. Perhaps after a slight correction? Let's see how much the buyer will have the strength to overcome the indicated resistance levels and still insist on his northern priority. Still, the classic exit from the rising wedge on the breakdown of the lower boundary and an attempt to resume the decline, and the first significant horizontal support level is at 60.60-70 . Perhaps the situation with an increase in infected with coronavirus will limit the north?

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    2021-05-06   10:00
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    Prediction for the WTI or Crude oil
    After today's update of the minimum, the markup had to be moved. The correction went down. Now it has bounced off just 66.50 from the run of the first wave. This may indicate that it ended at this level. The main scenario is of course upward. The beginning of the third wave. We will not be in a hurry for now, because there is, of course, the second option - a decline, in which the correction in the entry of the 4th small wave will continue. On crude oil, yesterday's result formed rectangle pattern with an emphasis on the resistance of 64.85. I do not consider it to be appreciated at its true worth, since there was no corrective upward wave in front of it, which would indicate a further desire to move the price lower. Today we managed to break through the local support, but we failed to stay below it. We would like further growth, but most likely we are expected to fall by 64.50.
    It is believed that as long as the price remains above this zone, we should expect a spurt to the north, on which we must invariably make money. Thus, within the framework of the day I expect a possible retest of the 66.10 level, where purchases with a target at 65.80 will look good. On the other hand, bears may activate if the price is dragged below 64.70, then we will probably roll further south. WTI crude oil is testing the 64.84 support level for the second time price action is in range. The resistance level, which was briefly tested at 64.55, is a likely upside target. A solid close near the 64.55 resistance level will confirm the resistance level, after which oil prices could break down from the current range. A close below 65.95 would push crude towards the 65.73 downside support.

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    2021-05-06   15:22
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    According to my observations, the central level 65 is very important, in our case it showed that we will not go up to 70. After all, if we could not pass the golden mean, bouncing from it, we will again go to test 60. So the lows of 61 will be just the beginning, I aim with the first profit at 60. I had to survive the takeoff well, but it was worth it. Many have lost money here, but the reversal with the breakout of the cloud has already been confirmed. True, the market does not always continue to go further, sometimes it needs a little time or a rollback into the clouds.
    Attachment 371755
    i have open a trade of sell today and hope so i will get handsome profits in some days.
    My Best Wishes are also with all the Sellers from this point. Good Luck....

    The attachment
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    Crude Oil

    During the Asian session on Thursday (May 6), U.S. crude oil fell slightly to around $ 65.00 . Oil prices were basically flat on Wednesday, erasing the gains made earlier in the session, as US gasoline inventories increased and technical signals indicated that it was facing an upward trend. Callback. As the world is in the midst of a commodity boom, some people in the oil market are preparing for the price of crude oil to reach US$100 per barrel. Traders now hold options to buy nearly 20 million barrels of crude oil at $100 a barrel in three key months , and their open positions have almost doubled in the past week. Although the recovery of oil prices to triple digits is obviously not a market consensus, and derivatives such as options are still mainly used as hedging tools against the possibility of price surges, they also remind people that few people expect crude oil prices to rise quickly to ebb. In general, oil prices are rising brightly. Although some disappointment with gasoline inventories, oil demand is picking up and the momentum is increasing. Investment banks predict that as Europe and many other regions get rid of the blockade, and intercontinental aviation begins to rise, crude oil prices It may reach US$80-85 in the second half of this year, but it is necessary to pay attention to the concerns of India or the outbreak of the third round of the epidemic or limit the room for oil price increases.


    From a technical point of view of crude oil

    on the daily line, the next day crude oil relied on the MA5 daily moving average to rise again. The intraday pierced the upper track and recorded a physical sun. On the daily line, todays market may continue to rely on the MA5 daily moving average to continue to rise. The high before the impact; 4 hours later, the next day crude oil relied on the MA5 daily moving average to show a slow rising trend. Yesterday morning, it refreshed a high of 66.58 US dollars/barrel. The Bollinger Band is currently in the opening period. The MA moving average goes out of the double golden cross. Downward trend, reaching overbought, MACD indicator red kinetic energy column continues to increase in volume, fast and slow line golden cross upward. On the whole, today's short-term operation is suggested to focus on the callback low and the high altitude as a supplement, the upper short-term focus on the 66.8-67.3 resistance, and the lower short-term focus on the 63.3-63.8 first-line support


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    Prediction for the WTI or Crude oil

    After today's update of the minimum, the markup had to be moved. The correction went down. Now it has bounced off just 66.50 from the run of the first wave. This may indicate that it ended at this level. The main scenario is of course upward. The beginning of the third wave. We will not be in a hurry for now, because there is, of course, the second option - a decline, in which the correction in the entry of the 4th small wave will continue. On crude oil, yesterday's result formed rectangle pattern with an emphasis on the resistance of 64.85. I do not consider it to be appreciated at its true worth, since there was no corrective upward wave in front of it, which would indicate a further desire to move the price lower. Today we managed to break through the local support, but we failed to stay below it. We would like further growth, but most likely we are expected to fall by 64.50.

    Name: oil.png Views: 20 Size: 29.9 KB


    It is believed that as long as the price remains above this zone, we should expect a spurt to the north, on which we must invariably make money. Thus, within the framework of the day I expect a possible retest of the 66.10 level, where purchases with a target at 65.80 will look good. On the other hand, bears may activate if the price is dragged below 64.70, then we will probably roll further south. WTI crude oil is testing the 64.84 support level for the second time price action is in range. The resistance level, which was briefly tested at 64.55, is a likely upside target. A solid close near the 64.55 resistance level will confirm the resistance level, after which oil prices could break down from the current range. A close below 65.95 would push crude towards the 65.73 downside support.


    Name: oil2.png Views: 20 Size: 54.3 KB

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    According to my observations, the central level 65 is very important, in our case it showed that we will not go up to 70. After all, if we could not pass the golden mean, bouncing from it, we will again go to test 60. So the lows of 61 will be just the beginning, I aim with the first profit at 60. I had to survive the takeoff well, but it was worth it. Many have lost money here, but the reversal with the breakout of the cloud has already been confirmed. True, the market does not always continue to go further, sometimes it needs a little time or a rollback into the clouds.
    Name: IMG_20210506_182457.jpg Views: 24 Size: 204.1 KB
    i have open a trade of sell today and hope so i will get handsome profits in some days.
    My Best Wishes are also with all the Sellers from this point. Good Luck....

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    { Technical Analysis Of The CRUDE OIL Pair (May 6) ​ANALYSIS }

    Fundamental Analysis-:
    If we remove the news on Iran, then others immediately pop up, today it became known that Saudi Aramco will reduce selling prices for consumers from Asia, and all due to the case is associated with a worsening epidemiological situation in the region. So, in India, at the end of the past day, another anti-record was set for the number of cases and deaths from coronavirus infection: 412.2 thousand new cases and 3.98 thousand deaths were detected, as a result of which the ****** authorities agreed to introduce a nationwide lockdown in the coming days. In general, speculators are not in an easy situation, on the one hand, the market is under threat, on the other hand, their desire to play on rumors, they say there is a vaccine, something to fear, and on the cries of states about the rapid recovery of the world economy.

    Technical Analysis-:
    Still, they are trying to build a movement within the ascending channel. We managed to test the horizontal resistance level 66.30-40 and now the correction is fully worked out to the horizontal level 65.20-30 . It remains to either resume the upward movement, or move inside the channel for a decline and test the lower boundaries of the upward channel. It is preferable for the buyer to get out and consolidate above the tested resistance level 66.30-40 , but let's see how possible it will be after exiting both the upper border of the channel. The option to get a decline on the exit from the ascending channel with the breakdown of the lower border is also possible, but here the main obstacle is the horizontal support level 62.80-85.

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    Crude Oil Fundamentally Analyzes


    US crude oil fell slightly on Thursday (May 6) . As the world is in the midst of a commodity boom, some people in the oil market are preparing for the price of crude oil to reach US$100 per barrel . Traders now hold options to buy nearly 20 million barrels of crude oil at $100 a barrel in three key months , and their open positions have almost doubled in the past week. Although the recovery of oil prices to triple digits is obviously not a market consensus, and derivatives such as options are still mainly used as hedging tools against the possibility of price surges, they also remind people that few people expect the rise in crude oil prices to ebb soon. Overall, oil prices are rising brightly. Although some disappointment with gasoline inventories, oil demand is picking up and the momentum is increasing. Investment banks predict that as Europe and many other regions get rid of the blockade, and intercontinental aviation begins to rise, crude oil prices It may reach US$80-85 in the second half of this year, but it is necessary to pay attention to the concerns of India or the outbreak of the third round of the epidemic or limit the room for oil price increases.

    Technical aspects of crude oil:

    The daily line closes over the K line is in a V shape above the Bollinger Bands middle rail, and the line part closes above the rising line, so there is still a short-term demand for callback. The hourly line rose on the Bollinger Band Middle Track and the 50 MA at the same time, and the Line rose strongly all the way. The Bollinger Band track clearly tilted upward, the opening continued to increase, and the obvious upward tilt. Although it was blocked and fell back near the new high of 66.7, the K line Holding the middle track of the Bollinger Bands and continuing to move up, the typical move of stepping back to confirm support, the hourly line shows a clear bullish trend. On the whole, after the crude oil stepped back to confirm the bottom at the beginning of the week, it not only recovered the decline of last week, but also set a new high.The current upward channel remains intact. On the whole, today's crude oil short-term operation is suggested to be mainly low and long, supplemented by high altitude. The top short-term focus is on the 67.0-67.5 first-line resistance, and the bottom short-term focus is on the 63.5-63.0 first-line support

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    The latest crude oil market analysis:

      
    crude oil news face analysis: crude oil prices fell slightly on Thursday, erasing the early gains in the session, because US gasoline inventories increased, and technical signals indicate that its rise is facing a correction. According to a report from the US Energy Information Administration on Wednesday, US crude oil inventories fell by nearly 8 million barrels last week, the largest increase in exports in history, but gasoline inventories increased for the fifth consecutive week. The raw material market has generally risen for some time, pushing the Bloomberg Commodity Spot Index to its highest level in the past decade, and crude oil prices have also followed this upward trend. However, the failure of oil prices to break through key resistance levels and the fact that prices have been hovering near the upper Bollinger band in recent trading days have increased downward pressure. The reopening of the US economy and the vaccination of the new crown vaccine will continue to provide support for the long-term recovery of demand in the US market. Some analysts said that oil prices have risen brightly, but they have gone too far, and prices have encountered resistance and fallen, but it is difficult for the growth of demand in the summer to derail.
      
    Crude oil technical analysis:


    Crude oil showed a trend of rising and falling as a whole on Thursday. It opened at 65.2 in early trading. After a slight fall, it began to rise. The highest reached US$65.9, the European market turned down, the US market accelerated downward, and the lowest touched an intraday low. It rebounded after the 64.4 position and finally closed at around $65. From the perspective of the disk, the daily line closes the middle yin line of the shadow line, forming a pattern of 2 consecutive yin. This time the callback is slightly stronger, but it does not form a yin swallowing yang pattern, and a trend change is formed spatially, but in actual form , The daily Bollinger Band continues to open upwards, showing a shock upward trend recently. The K-line runs along the upward trend line, and the K-line keeps developing above the daily unilateral moving average. The trend in the daily cycle is still long. On the 4-hour line, the K-line continued to close at a high position. After hitting a high of $66.7, the rebound high continued to move downward, forming a partial head and shoulders pattern. Although the overall upward channel has not been destroyed, it is a way to change time and space. , The overall is still strong, but we still need to beware of a deep pullback caused by a high fall. On the whole, after the continuous rise of oil prices, short-term corrections are ushered in. Therefore, in the daily operation. Ghot to rebound from high altitudes, supplemented by callbacks.


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    Crude oil technical analysis-

    Crude oil weekly K-line closed positive continuously, oscillated upwards, lows continued to rise, and highs continued to rise to new highs. The daily K line has a pattern, stepping on the middle rail, stepping on the moving average MA60, steadily working as a car, oscillating upwards, and constantly climbing stairs. So every time there is a retracement, there must be more than one chance to enter the market. At present, the big Yang line is continuously rising, and the 50 moving average shows a value near 64. The moving average support has been strong for a long time. It is enough to go in directly if the retracement is in place. The four-hour k-line of crude oil continues to break the previous high point. , The retracement of 64 line can directly go in, the Bollinger Band track is obviously inclined upward, the opening continues to increase all the way, the Dayang Line is currently all above the 50 moving average, the moving average support is obvious, and the bulls are not in doubt. On the whole, on the short-term operation idea next Monday, suggested to call back low and high prices as supplementary. The top short-term focus will be on the resistance of 66.8-67.3, and the short-term bottom will focus on the first-line support of 63-63.5.

    ---------- Post added 08-05-2021 at 05:19 AM ---------- Previous post was 07-05-2021 at 05:59 PM ----------

    Analysis of Crude Oil News

    Oil prices rose slightly on Friday. Despite the worsening of Indias new crown crisis and optimism about global economic recovery, oil prices rose for the second consecutive week; both U.S. oil and Bursa oil rose more than this week. 1%, which is the second consecutive week of rising. The United States and Europe eased movement restrictions, resumed factory operations, and vaccinated to pave the way for the recovery of fuel demand; data showed that Chinas exports unexpectedly accelerated in April, and private surveys also showed Service sector activity expanded strongly; however, Chinas April crude oil imports fell 0.2% year-on-year to 40.36 million tons, which was the lowest import volume since December; believes that this weeks oil distribution almost exceeded US$70 per barrel. , But ultimately failed to break through this barrier, dragged down by demand uncertainty; the unexpected slowdown in employment growth in the United States in April may be at a time when public health conditions are rapidly improving and large-scale government assistance boosts economic recovery and boosts demand. , Constrained by shortages of workers and raw materials; energy services company Baker Hughes said that the number of active oil and gas rigs in the United States increased by eight this week to 448, the most since April 2020; it hit a record low in August last year Since then, as oil prices have rebounded, the number of active rigs has also been increasing moderately; this is an early indicator of future production.

     Crude oil technical analysis

    The middle yin line of the upper shadow line on the daily line forms a pattern of 2 consecutive yin. This time the correction is slightly stronger, but it does not form a yin swallowing yang pattern, and a trend change is formed spatially, but in actual form, the daily Bollinger Band Continue to open upwards, showing a shock upward trend recently. The K line runs along the upward trend line, and the K line keeps developing above the daily unilateral moving average. The trend in the daily cycle is still long. On the 4-hour line, the K-line continued to close at a high position. After hitting a high of $66.7, the rebound high continued to move downward, forming a partial head and shoulders pattern. Although the overall upward channel has not been destroyed, it is a way to change time and space. , The overall is still strong, but we still need to beware of a deep pullback caused by a high fall. On the whole, after the continuous rise of oil prices, short-term corrections are ushered in. Therefore, suggests to pay attention to the 66.-66.5 first-line resistance in the next week's operation and the bottom to focus on the 63.5-63 first-line support.

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    Weekly Review of Crude Oil

    The optimism of economic restart in Europe and America boosts the oil market.


    Basic news:

    U.S. crude oil rose 2.09% this week to $64.82 per barrel, two consecutive weekly gains, mainly supported by the optimism of economic restart. In addition, the U.S. dollar fell 1.16% this week, the largest decline since December last year, which also helped oil prices. This week recorded a rise. However, the epidemic in India and Japan is still quite serious, and the US and Iran are expected to quickly return to the nuclear agreement, which may limit the trend of oil prices in the future.


    Related news:

    The optimism of the economic restart boosts the oil market. Increased optimism about the restart of the US and European economies encouraged oil prices to close this week. Britain fuel sales have risen to the highest level since the outbreak, this latest sign shows that oil demand in countries with high levels of vaccination is rebounding. On April 30, the sales of gasoline and diesel at each gas station soared to 19,377 liters, the highest level since the British epidemic was blocked in March last year. This is higher than the peak of the 2020 summer vacation.

    Name: Screenshot_2021-05-08-15-48-57.png Views: 4 Size: 57.2 KB

    Tamas Varga, an analyst at PVM Petroleum Consortium, said: This is a tangible proof that the vaccine project is a way out of the crisis. The more countries that launch the vaccine, the higher the fuel consumption. The recovery in demand has aroused the interest of oil traders, and the UK is implementing a stable economic reopening plan, which will end in June. The UK has given at least half of the population a dose of vaccine. The US economy has shown signs of rebound. According to the US Centers for Disease Control and Prevention (CDC) data, as of this Monday, more than 145 million Americans aged 18 and over have received at least one dose of the vaccine, accounting for 56.3% of the total US adult population. Of these, about 104.7 million people have been fully vaccinated, a rate of 40.6%.
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