WTI Eyes $89 Again?! Here’s What You Need To Know | Commodities
Today’s focus: Oil
Pattern – Lower High
Support – 86.00
Resistance – 86.87 – 89.12
Today, we are looking at Oil on the daily chart. Since the price started this week with a sharp gap higher, we are continuing to watch these new levels and whether they will become set in the medium or long term.
Demand worries and peak prices were a concern not too long ago as we saw prices move down to around the $82 level.
Has this rally been a flash in the pan, and will sellers fill the gap? Or Has the dynamic changed in the short term, and could we see a new move from buyers to lock in these highs and re-test $89?
https://www.tradingview.com/chart/USOUSD/pTonO7do-Oil-Thoughts-and-Analysis/
Good trading.
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