WTI Major Support
If you are thinking of going long and accumulating long positions, this might be a good area to start. Price has touched Support 5 times dating back to beginning of the year. This might not be a full blown rally back to $60 range as fundamentally the news is not very bullish with the mild winter season and record OPEC production.
But this will set you up to be in position if news reverses and OPEC suddenly cuts production.
But this will set you up to be in position if news reverses and OPEC suddenly cuts production.
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