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WTI crude oil hits $38: What's next

Discussion in 'Technical Analysis' started by ForexLive, Mar 7, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Oil up 6% today The oil squeeze is on. It's tough to predict when a squeeze will end but the chart can offer some helpful hints. There is a convergence of resistance near $38.50. The high so far this year (in early January) was $38.39 and the 50% retracement of the drop that started in October is $38.55.

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