Crude Spikes Through Channel and Fails….Again
Prepared by Jamie Saettele, CMT
Crude traded flat in April in what may be accumulation. Like gold, exceeding April’s high would put bulls firmly in control towards the tentative channel resistance above 10600. Of note is 20 day rate of change, which turned positive after Monday’s close. 10370 and 10275 are supports.
Bottom Line (next 5 days) – higher?
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