CRUDE OIL
The oil price is consolidating between the levels of 97.90 to 103.20, so it has not yet defined exactly if it continued its downtrend in the short term, or retake its upward trend long term. The first position can by buy now (98,20) and strengthened later by an additional position in the event that the price of oil breaks through the nearby resistance rate at 100.60 dollars or close above the weekly pivot line.
The price of oil is expected to easily rise above the resistance level of 105,90 dollars and perhaps go even higher than that.
The oil price is consolidating between the levels of 97.90 to 103.20, so it has not yet defined exactly if it continued its downtrend in the short term, or retake its upward trend long term. The first position can by buy now (98,20) and strengthened later by an additional position in the event that the price of oil breaks through the nearby resistance rate at 100.60 dollars or close above the weekly pivot line.
The price of oil is expected to easily rise above the resistance level of 105,90 dollars and perhaps go even higher than that.
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