- Crude oil daily chart shows a triangle pattern.
- Price above 50 Day SMA But nearing 200 Day SMA. This zone between 50 and 200 SMA is crucial for crude oil bulls. A bigger up move possible only on a triangle breakout and closing above 200 SMA.
- Weekly chart shows a range between 23.6% and 38.2% Fib levels. Bigger moves once this range gets resolved.
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