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Crude Oil Breakout Grasps for Footing at the 80-Handle

From dailyfx.com

Oil prices have continued to rip, continuing what’s become a very strong performance in 2021. Oil prices are currently up more than 60% this year as a number of resistance levels have been taken-out. In early-May, I wrote about a brewing showdown at a big spot of resistance. Later in the month, that breakout was gearing up and I highlighted the setup in an Analyst Pick on May 27. That breakout cleared and a couple of weeks later, crude oil prices were testing over the 70-handle. And by July, another major area of long-term resistance was coming into play around the 75-handle. That resistance held in July and crude ... (full story)

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  • Category: Technical Analysis