CRUDE OIL is still well bid suggesting further upside potential toward November’s top at 103,37. We expect however the move up to be corrective, still.
The indicators of the daily chart are still positive as well as those of the s/t ones supporting higher levels. Bearish divergences confirm a positive tone. Nevertheless we expect the upside to be limited favouring a correction toward the 200 hours line, now found at 98,66!!
We stay short for this possible decline!!
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FUTURE TREND RESEARCH