Good morning, and welcome to today's issue of Energy Investor Daily! I'm currently analyzing the CLV2022 crude oil contract for October 2022… Price has tested the yellow descending channel structure overhead and continues to react to it. Pulling out the Fibonacci levels, from the low of November 2021 to the high of June 2022, along with my long-handed analysis, we continue to see notable support in the low $80 handle. While we haven't seen price action test this area just yet, there's quite a bit of analysis that is consistent with support in the lower $80 handle. But is it a solid floor? |
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