Light Sweet Crude
The CL contract continues to put up a fight as the bears simply haven’t been able to put it away. The weekly candle did in fact attempt to break the top of the “continuation” shooting star from the previous week, so this is in fact bullish – even though it didn’t actually manage to do it. The market has also managed to stay above the all-important $75 level, so this move is seen as supportive as well. However, the recent trend is still to the downside, and we think that should continue.
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