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Brent And WTI Jump

OIL TECHS

Oil is firmer this afternoon with Brent and WTI trading above yesterday's high.

  • Underlying bullish conditions remain intact following last week's high and recent weakness has likely been corrective in nature.
  • Attention turns to initial resistance in Brent at $43.57, Oct 9 high.
    In WTI, the next key resistance is at $41.47, Oct 9 high.
  • A break of both these levels would signal a resumption of the Oct rally.

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