US Crude poised for breakout?

Monday, 27/02/2017 | 08:39 GMT

Disclaimer

Crude oil prices are consolidating within the price action seen at the start of the new contracts last week. This could be paving the way for a break higher with recent highs just short of $55 as the target. Look for support at around $54 then $53.6

USD/JPY may have paused for breath overnight but another move lower would take out the 100 day moving average, opening up the 38.2% retracement level around 111.15.

This article comprises the personal view and opinion of the STO Investment Research Desk and at no time should be construed as Investment Advice.

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Source: https://www.stofs.com/en/newsroom/entry/TECHNICAL/us-crude-poised-for-breakout

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