WTI Crude moves above $83

Viewed on the hourly chart, the price was also trading above the swing high dating back to November 18th at $82.66 and the swing high dating back to November 22nd at $82.35. These levels are now viewed as close support. On the upside, the 50% moving down move from the November 7th high is $83.66.

The reaction today seems to be that the weaker data is not good for stocks – at least for today. The interpretation can go either way depending on the winds in the…



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