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Crude Oil Technical Analysis: WTI Bearish Potential Sub-60

From dailyfx.com

Crude oil prices remain range-bound on a short-term basis, and there’s been little excitement over the past couple of days. There is, however, a possible strain of deduction that may be opening the door for a more decisive move. But first, the range that was looked at on Tuesday is shown below with updated price action since that last article was published. {chart} BOUND TO BREAK ONE WAY OR THE OTHER: Crude oil prices were in aggressive trends coming into late March, at which point price action built into the range. And yesterday saw a resistance inflection come in off of the psychological 60-handle, a big level on ... (full story)

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  • Category: Technical Analysis