Crude Swings Violently in Range
Prepared by Jamie Saettele, CMT
Since the November high, crude has traded sideways, suggesting that another high may be in store. Support was strong last week ahead of the 200 day average and a short term resistance line (extended off of the November and December highs) is just above current price. Trading through 10338 would likely see an extension towards 10450. Use last week’s low at 9740 as the pivot.
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