The Oil bounce from 75 is important for the upside continuation
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Oil bounced off 75, which is long-term solid support for a continuation higher. This bounce and a break above the long-term falling wedge upside resistance 85 led to a test of the critical 93 resistance for a complete upside reversal.
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The weekly chart reveals a bounce off the lower support line of the broadening wedge support 75-80 zone. On the upside, we have a strong upside reversal resistance of 93 which Oil needs to overcome for the continuation higher. and an upside extension to the 108-110 zone.
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