WTI OIL Break-out or rejection


Oil is approaching the most important trend-line on the medium-term, the 84.80 – 85.40 Resistance Zone. A break and session close above 85.40 should technically aim at the 2.0 Fibonacci extension of 92.50. On the other hand, a rejection at 84.80 should aim at the 1D MA50 (red trend-line) and the Lower Lows trend-line.

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