BofA Merrill Lynch notes in a report on Wednesday: Since peaking on Feb-03 at 55.05 (basis CLJ5) WTI has fallen into a month long range. That range has been characterized by persistent lower highs. This makes the range l…
BofA Merrill Lynch notes in a report on Wednesday:
Since peaking on Feb-03 at 55.05 (basis CLJ5) WTI has fallen into a month long range. That range has been characterized by persistent lower highs.
This makes the range lows at 48.20/47.80 vulnerable to a downside break. Below here exposes long term trendline support at 46.28 ahead of the Jan-29 low at 44.37 and potentially beyond.
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