March “mini” Nymex crude oil futures a buying opportunity on more price strength.
See on the daily bar chart for March Nymex crude oil futures that prices on Thursday hit a fresh nine-week high and may be producing a bullish upside “breakout” from the recent choppy and sideways trading range. Bulls have gained fresh near-term upside technical momentum. A move above near-term technical resistance at $92.00 would become a fresh buying opportunity in the March “mini” Nymex crude oil futures contracts. The upside price objective would be $98.00, or above. Technical support, for which to place a protective sell stop just below, is located at $89.00.
