3 min readOIL (WTI/USD | BRENT):
Oil has experienced a strong rally in recent weeks, finding support near the recent lows around $66.00 and climbing to new highs at $78.
On a higher timeframe, it is evident that the support area around $66 held firmly, with prices rebounding sharply and trading aggressively to the upside. On the weekly chart, we can also see a decisive break through the external descending trendline. I will be closely monitoring whether this upward momentum continues, potentially driving prices higher toward the external resistance level near $90.
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