Dominate Your Market
by Jim Wyckoff
The crude oil market bulls are fading fast after prices hit a four-week high earlier this week. Tighter global monetary policies are going to slow economic growth and that’s spooking the crude oil market bulls. A drop in October Nymex crude oil futures prices below chart support at the August low of $85.37 would produce serious near-term technical damage to suggest a fresh leg lower in prices in the near term. Stay tuned! —Jim Wyckoff
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