Crude Oil prices surged greater than 6% over the previous two days with WTI poised to check a key weekly resistance barrier simply larger. These are the up to date targets and invalidation ranges that matter on the oil price weekly chart. Review my latest Weekly Strategy Webinar for an in-depth breakdown of this Loonie worth setup and extra.
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Crude Oil Value Chart – WTI Weekly
Notes: In my earlier Oil Weekly Price Outlook we famous that WTI had, “been testing this key assist barrier since June and whereas the broader danger stays decrease, the short-bias stays weak whereas above the 51-handle.” The assist zone in focus was 50.59-51.60 – a area outlined by the June swing low and the 61.8% retracement of the December advance. The September low at 50.97 held into the October shut with the following…