Oil Crude Long Term View One Last Hurrah?
Oil has formed a descending triangle since hitting a high of $140, while two previous ascending triangles have spilled out the ends. We could be forming one more ascending triangle, as a last hurrah for the price of oil, but there is lots of levels of resistance, so I don't see it going past $80. Obviously, this market is heavily impacted by geopolitical risks, and a war with Iran could be the final nail in the coffin.
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