Oil Struggles to Recover $90
Oil seems to have bottomed out at $85.55. We saw good support from green triangles on the KRI, and a subsequent pivot back to the high $80's. We are now just below $90, with $90.06 in particular being the level to break before attaining higher levels. We should see significant resistance there. The Kovach OBV is bearish and keeps pressing lower. If we fail to test the $90's, then $85.55 should provide support, with the next support levels below including $84.75 and $83.76.
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