The Nymex crude oil futures market has powered to a three-year high this week, due in part to political tensions in major oil exporter Iran. The fact that crude oil has pushed above what was a strong technical resistance layer around the $60.00 level suggests there is more upside price potential for the market. The next upside target for the empowered oil market bulls is chart resistance at $65.00 a barrel. Stay tuned!–Jim
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