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Crude Oil Markets Continue to Flirt With Upside

From fxempire.com

The West Texas Intermediate Crude Oil market has been back and forth during the course of the trading session on Thursday, breaking above the $70 level the second day in a row. If we can turn around on dips going forward, then I think we will gradually build a certain amount of momentum to go to the upside. To the downside, the top of the ascending triangle should continue to offer support, as it had been significant resistance. The $67.50 level underneath is an area that I will be paying close attention to. However, we break above the highs of the Thursday session then I anticipate that the market is probably going ... (full story)

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  • Category: Technical Analysis