Oil Holds the Range
Oil has leveled off finding strong support in the lower $100's, $100 and $101 specifically. We mentioned in these reports that we are due to range between $100 and $106, as the Kovach OBV has completely flatlined and both levels will provide strong support and resistance, respectively. If we breakdown further, we should have strong support from $95.24. If we are able to break $106, then $111 is the next target.
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