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WTI Crude Oil Trading

#CRUDEOIL / H4
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We are back to the middle of the descending chanel.
Above 73.40 towards 83.
We also overbought and NY could retest the lows of 64.
Last position closed.
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Quoting Jolita
We are back to the middle of the descending chanel. Above 73.40 towards 83. We also overbought and NY could retest the lows of 64. Last position closed.{image}
$64 is coming back but will be a month to see it.
Be humble or be humbled.
Quoting Temujin
{quote} $64 is coming back but will be a month to see it.
Still in bearish zone, below 71.55 selling to 68.75 and retest 66 - 64.
I'm seeing something different now. We are flattening out on the W1 chart and supported on the D1. We are moving back up to $76.
Be humble or be humbled.
Opec meeting in a week or so. Driving season coming up. Big draw down last week. Fundamentals are looing ok.
Be humble or be humbled.
A temporary pop but now looks to go to $65 when SPX implodes in a couple weeks.
Be humble or be humbled.
Resistance held so far,
below 73.60 towards 64.00,
above 73.60 - to 83.00

In my view price might attempt to revisit circa $64. 00 - $60.00 support / lower chanel.

Weekly chart
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Quoting Jolita
Resistance held so far, below 73.60 towards 64.00, above 73.60 - to 83.00 In my view price might attempt to revisit circa $64. 00 - $60.00 support / lower chanel. Weekly chart {image}
Could test the 200 Week MA at $65. We need to see a rotation of money back into the energy sector in June. The inventories have been good but hedge funds are betting against crude oil.
Be humble or be humbled.
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Quoting Temujin
{quote} Could test the 200 Week MA at $65. We need to see a rotation of money back into the energy sector in June. The inventories have been good but hedge funds are betting against crude oil.
No, weekly chart below all.
We are attempting to take monthly EMA 200 63.48, while monthly EMA100 68.07 a history.

Oil price is controlled, pushed lower if not, world economies will collapse (already near the cliff).
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