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Crude Oil Price Forecast: WTI Bulls Capture $90- Breakout Levels
Crude oil prices have now surged more than 43.2% off the yearly lows with a breakout in WTI pressing fresh yearly highs this week. The outlook remains constructive with the bulls within striking distance of multi-year trend resistance. These are the updated targets and invalidation levels that matter on the WTI weekly technical chart. Technical Outlook: In last month’s Crude Oil Price Forecast we noted that a seven week rally in WTI was vulnerable, “into resistance at the yearly range-highs. From a trading standpoint, a good region to reduce portions of long-exposure / raise protective stops – losses should be ... (full story)