MTECHTIPS;-Crude Oil Price Forecast – crude oil opens the week with volatility

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MTECHTIPS;-Crude Oil Price Forecast – crude oil opens the week with volatility

MTECHTIPS-Crude oil markets continue to be very noisy, rallying towards the top of the gap from the open on Friday. At this point, it’s likely to see a bit of resistance after that rally, especially considering that crude oil markets have been negative.The WTI Crude Oil market has rallied a bit during the day on Monday and is up 1.44% as I record this video. The market is likely to fill the gap now, that was formed during the open on Friday. It’s likely that the sellers will come back somewhere near the $69.50 level, and most certainly near the $70 level as it has a certain amount of psychological importance attached to it. At this point, I suspect that the sellers will come back eventually as the move has been so strong. However, a bounce was probably needed to calm the markets down and offer opportunities

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