Crude is Constructive; Possible Hiccups Near 40 and 42
Chart Prepared by Jamie Saettele, CMT
-The last update noted that “crude is in full crash mode (again). The line that provided support in August could do so again. That line is around 34. If crude bounces before reaching the mentioned support, then watch for resistance near 38 (median line, which was resistance on Wednesday).” The mentioned line was support again. The median line is a little lower now…about 37.10 on 12/23.
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