Crude Oil Technical Analysis – We got a key breakout recently ...Middle East

Fundamental OverviewCrude oil managed to eventually break above the key $80 resistance as the market has finally started to catch up to positive drivers. In fact, we got the recent OPEC+'s extension of voluntary output cuts, and we are seeing a pickup in economic activity as the US PMIs showed once again last Friday. We have also some major central banks beginning to ease their policies and China will likely continue to do so as deflationary forces remain present. This should support the demand outlook in the big picture. Crude Oil Technical Analysis – Daily TimeframeOn the daily chart, we can see that crude oil managed to break above the key resistance around the 80 level and consolidated e

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