Dominate Your Market
by Jim Wyckoff
The Nymex crude oil market bulls are still in firm near-term technical control as prices are trending up and this week hit a seven-year high. However, price action Wednesday produced a bearish “key reversal” down on the daily chart, which was confirmed by follow-through selling pressure on Thursday. That is one technical clue that the crude oil market has put in a top. Stay tuned!
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