In today’s briefing:
- Crude Oil: A Buying Opportunity Could Be Near
Crude Oil: A Buying Opportunity Could Be Near
- Crude Oil (CL1 COM COMDTY) has been pulling back last week, and this week started with another drop (in sync with falling US stocks).
- The commodity may be reaching soon a a support area with a high probability of reversal. There are various conflicting forecasts for Oil, our forecast is only short-term.
- Our Crude Oil model indicates the 74-70 support area as oversold, a reversal of the trend may begin from there, the trend could continue higher afterwards.
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