The weekly chart of Light Crude Oil Futures (CLQ2024) from NYMEX shows the current price around $80.76, approaching a key resistance level at $83.56. The analysis suggests waiting for a breakout above this resistance, which could signal a bullish trend with potential targets at $105.26 and $115.88. A support level is marked at $66.98, which would be crucial if the price retraces.
The purple shaded area highlights a consolidation zone where the price has been trading sideways. Breaking out of this zone, particularly above the resistance, could indicate a significant bullish move.
The purple shaded area highlights a consolidation zone where the price has been trading sideways. Breaking out of this zone, particularly above the resistance, could indicate a significant bullish move.
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