US Oil weekly-strong reevrsal tgt 44$

US Crude oil Weekly chart 9 april 2016 US crude oil this week closed with 4% gains at almost 38$.     On weekly chart this week closing was significant reversal signal with price and volume.     Weekly chart price trend is down but momentum is strong bullish and expect higher levels in medium to long terms.     For next week, WTI crude oil support zone is 36.7$ while resistance is at 44$ which is also medium term target for this energy commodity.

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Updated: 05/06/2017 — 4:44 AM

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Pramod Baviskar

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