Oil supported for a new high

Oil is supported by 90

 

Oil has reached the apex of the rising wedge but is still well supported by 90. A break above 95 will open a new leg higher into 110 where stronger upside resistance is expected. There is strong upside support 85-88 zone which should not be broken. As long as the Oil is above 85 look for its extension higher.

Note: look for the long trade entries with a stop loss below 88

 

 

 

 

 

 

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