Crude shows hell of a lot of time to break the head and shoulder pattern. It shows a good consolidation before the surge in price. OPEC has agreed to cut short their supply leads to price stabilization in the mid term. As per the chart if crude is able to break the pattern the theoretical target should be somewhere around 72-75 However there is a resistance at 57 -58 first. Market is subject to risk Only time will tell
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Showing posts from December, 2016