Crude oil nearing big resistance

٣٠ يونيو ٢٠٢١

The breakout in oil prices continues, and bulls haven't really looked back. But - a massive spot of possible resistance is nearing on the chart and this might be an opportune area for buyers to take a break. At 75 is a major psychological level that oil hasn't tested in some time. The level at 75.41 is a longer-term Fibo level, and just above that is the current six-year-high.