Crude Whipsaws but Breaks Channel Resistance
Prepared by Jamie Saettele, CMT
After a false break earlier this week, crude is back above the resistance line that defines the trend from the May high which is a bullish development. Trading through 9051 would shift focus to a July pivot low at 9353. The near term trend is considered up as long as price is above 8421.
Trend Strength (M,W,D) – (1), 0, 0
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