JStanleyFX

Resistance makes its mark in Crude Oil

NYMEX:CL2!   Crude Oil Futures
been following this through the breakout, posting in late-May as prices were gearing up for a bullish breakout and through June, following that higher. More recently, however, started focusing in on a zone of longer-term resistance that's finally helped to quell the run.

Pullback thus far has been bid after a test at the 70 psych level. Bulls don't yet look done. But, it may take some time to finally push through this big picture zone of resistance, home of the current six year high in WTI.

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