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Is $93 per Barrel Within Reach for WTI Oil?
In today’s technical analysis, it’s impossible to overlook the remarkable performance of oil, specifically WTI, which has been experiencing an extraordinary end to August and a strong start to September. The bullish sentiment in the oil market has been underscored by a significant breakthrough. WTI oil has decisively surpassed a critical horizontal resistance level at $83 per barrel, an area highlighted in yellow on the chart. The asset is currently trading at its highest levels since November 2022, making it one of the standout commodities right now. The breakout above this yellow resistance line activates a ... (full story)