The crude support and resistance chart below is quite interesting. As you can see the support and resistance in crude has been bouncing in between 23 adn 34 and if you zoom back and look at the chart you can see that since the end of FEBURARY this year we look like we are forming an inverted head and shoulders pattern on the chart.
Normally an inverted head and shoulder on the crude chart could be a warning of more upside coming especially if we break the 34 level, that would be a very good thing!
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| crude support and resistance |
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