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Crude Oil Price Forecast: WTI Bounces from Big Level – Can it Hold?

November 29, 2021

Via: DailyFX

It’s been a big year for crude oil prices. After flopping below zero last April matters have changed quite a bit. Oil prices caught a major last November, on the heels of the election, printing a bullish engulfing pattern as prices jumped back above the $45 handle.

Bullish engulfing candlesticks are often followed for continuation and continue it did, with the next three months in the green and 9 of 11 months higher following that formation.

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