Crude Awaits Resolution of Range
Prepared by Jamie Saettele, CMT
Crude’s range has been small (for crude) in March at a bit over 6%. Near term resistance is 10700 and near term support 10565. The larger trend should be considered up as long as price is above 10378 (much like the AUDUSD, NZDUSD and their respective levels. 10378 is reinforced by the trendline that extends off of the October and February lows.
Bottom Line (next 5 days) – sideways / higher?
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