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Crude Well Supported on Dips

Crude Well Supported on Dips

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly Candles

eliottWaves_oil_body_crude.png, Crude Well Supported on Dips

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

Commodity Analysis: Crude is well supported on dips and near term focus remains higher towards the 2/25 high at 94.43 and former support at 94.94. Bigger picture, last week’s reversal, recent trendline resistance break and trendline support hold paint a bullish picture.

Commodity Trading Strategy: Bullish on weakness below 91.90

LEVELS: 89.33 90.25 91.70 93.69 94.43 95.89

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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