Crude Breaks Trendline Resistance; Pulls Back from Former High
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-Crude has broken through trendline resistance. The market immediately pulled back after testing highs from mid-December just below 99. As long as price is above 96.24, look higher. A drop below that level opens up 95 again.
-The failed break of long term trendline supports may very well propel the market higher in the coming months.
LEVELS: 95.14 96.24 97.25 | 98.79 99.46 100.73
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