Oil Hits Our Target of $100
Oil has picked up again, breaking through $100, but finding resistance at $101. This is exactly what we anticipated, it just took a few days for oil to break through the resistance in the mid $90's. Our next target is $106, but it will take some momentum to get there. It is likely that we will hover in the low $100's to establish value. If we retrace, we will have strong support from $95.24.
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