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WTI Crude Oil: Market Continues to Hover Above $70

From dailyforex.com

The West Texas Intermediate Crude Oil market pulled back just a bit during the trading session on Tuesday, but then turned around to show signs of strength. Ultimately, the stabilization of crude oil does help, due to the fact that we had recently seen quite a bit of volatility, and that can have a major influence on whether or not people are willing to put money to work. If we do break down below the $70 level, that could open up a move down to the $67.50 level, possibly even the $65 level. On the other hand, if we were to break above the last couple of trading sessions, then we could open up a move towards the $75 ... (full story)

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  • Category: Technical Analysis