"Technically speaking the argument for $74 is a bit out of range (not saying it can't happen given trajectory and sentiment). WTI touched a low of $75.29 on Friday. This upcoming week I'll be looking to put in a stop loss at around $75.40 and re-enter upon any sign of a reversal, that would be an intraday strategy however, due to inventories being announced on Wednesday.
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Excellent technical analysis. We apply various technical aspects on our analysis too. See it below: