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Oil Remains Firm - WTI Approaches Channel Top

  • WTI futures maintain a bullish outlook and have traded higher today.
  • Further gains are likely with $70.74 cleared, 76.4.% of the Jul 30 - Aug 23 sell-off.
  • The focus is on $71.37, the bear channel top drawn from the Jul 6 high.
  • This marks a key resistance and an important hurdle for bulls.

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