MacroVoices #386 Lyn Alden: Energy, Inflation & much more
Macro Voices
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Crude Oil Rally Has Legs
The rally was already in progress before the data after the data it kind of stumbled. The 55 week moving average at 79 spot 97 is co located with round number resistance at 80 dollars so are we gonna get above 80 dollars that's what's holding us back right now i think probably so. I wouldn't be surprised if we go back and retest the breakout zone that's the 200 day continuation moving average just around 77 dollars but for now it looks like the rally has legs yeah on page 1.
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