Major uptrend for WTI with breakouts above two resistance levels of $55 and $60

Four -Year Chart for West Texas Intermediate

Reference my last chart for West Texas Intermediate when crude was about to test resistance at $60. The reversal of roles from resistance to support or support to resistance is an important concept in technical analysis.

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“What is the major tend? What is the intermediate trend? What is the near-term trend?”
Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
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