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Crude Oil Upside Break Plays Out

Published 04/29/2013, 02:57 AM
Updated 05/14/2017, 06:45 AM
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WTI Crude Oil

In my weekly market commentary yesterday, I talked about how traders should look for a breakout of the $93.84 key resistance level, targeting at a minimum $94.50. This played out exactly to the tee on Monday, so hopefully you profited. The $93.84 could now act as a role reversal level for prices to launch higher, but short term the trend is still up. Upside targets would be $95.75, with stops just below $93.50, offering some good reward to risk play here. Look for price action signals to rejoin the trend around this level.
Crude-Oil-Breakout-Price

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