Crude Oil Technical Analysis – Geopolitics drives the price action ...Middle East

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Crude Oil Technical Analysis – Geopolitics drives the price action
Fundamental OverviewAs many other markets, crude oil bottomed out around last Monday as growth fears abated and started to slowly gain ground following catalysts like the appointment of the new Hamas leader and good US jobless claims.Yesterday we got another strong wave of buying as we got a Fox report saying that Iran could have attacked Israel in less than 24 hours. Tonight we got another report saying that the attack wasn’t going to happen today which led to a slight pullback.Crude Oil Technical Analysis – Daily TimeframeOn the daily chart, we can see that crude oil rallied all the way back to the key resistance zone around the 80 level. This is where we can expect the sellers to step in

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