Crude Oil Futures Weekly Chart…Pivotal Level

101 in the Crude becomes a pivotal level and a candidate for a Bear Trap..( Be wary of pressing shorts into this level early) Price action back above 101.82 would be the first sign the Oil is trying to hold and reverse back into it’s recent range.

A close below 101.82 puts in an ORL week, a potentially price negative pattern.

 

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