So far, April was a good month for the oil bulls

1. WTI was able to hold major support at $35
2. Breakout above the 40-week (200-day) moving average
3. Breakout above resistance of $40
4. $40  is now the current  support zone
5. $45 is the current resistance zone
6. $50 is the intermediate target and major resistance zone

Reference my April 12, 2016 post for WTI.

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“Technical Analysis is about probabilities.”

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