Crude Oil Support & Resistance

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Crude oil may not be done going down just yet. There are numerous examples of resistance drawn that continue on the bigger picture to be defended. Within the next $20-40 we could see another short term trading top, and then a decline to the $200 level as seen back in 2016. Time will tell, but cutting back supply recently may not be enough to keep the rally going from 6/11/2019’s nice 6% pop.

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