Oil Finds Support
Oil has found support at 88.74, and prices did not last in the high 80's for long. We saw an immediate pivot from this level and have solidified the 90's once again, breaking through 90'06, our next technical level, with ease. We should see some ranging from here between 90.06 or 88.74 and highs or our next target of 92.03. The Kovach OBV is still very strong, but we anticipate some further sideways correction before new relative highs. No data suggests any doubt to the overall strength of this bull rally.
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