Crude Oil Technical Analysis – The key breakout increased the bullish momentum ...Middle East

Fundamental OverviewCrude oil extended the gains after breaking above the key $80 resistance as the market eventually caught up to the positive drivers. In fact, we got the OPEC+'s extension of voluntary output cuts, and we’ve been seeing a pickup in economic activity.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. All else being equal, 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 broke through the key resistance around the 80 level and after some consolidation, extended the gains as the

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