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WTI Crude Oil: Trying to Break Top of Triangle

From dailyforex.com

The West Texas Intermediate Crude Oil market rallied a bit during the trading session on Tuesday as we are pressing the top of a huge ascending triangle. That being said, market participants continue to see this market as one that is bullish, and even though we are trying to break out of the triangle, it should be noted that there is a lot of noise just above from early March. With that being the case, I think that you need to find short-term dips in order to pick up bits and pieces of value. At this point in time, if we do pull back, I think there should be plenty of support near the $63.50 level where we have seen ... (full story)

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  • Category: Technical Analysis