Light Crude oil approaches March high level

Note: This section contains information in English only.
Source: Dukascopy Bank SA


Since the May 13 review, the price for US light crude oil has continued to surge. It has been observed that the May and June low and high levels can be connected to reveal an ascending wedge pattern.

If the commodity price continues to surge, the rate might test the March high levels at 130.00. On the other hand, a potential decline of the commodity price is expected to look for support in the zones near 115.00 and 110.00.

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