Crude Tightens Up for Another Thrust?
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-The reversal from above the December high gave way to several days of congestion. Crude is nearing a possible reaction zone defined by lows from September and the October high from 103.49 to 104.35 (pullback from there?).
-Long term, the failed break of long term trendline supports may very well propel the market higher in the coming months.
LEVELS: 99.38 100.15 101.36 | 103.49 104.35 105.51
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