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TFC Commodity Trading Forum

Dec Crude/Crawling up to Resistance *PIC*

Dec Crude is in a converging price range between the uptrendline at 87 and major resistance at 92. Watch for a breakout or breakdown of either line. Crude is in a bear market with the falling 20ema below the falling 50ema which is below the falling 200ema. And price has been having lower highs and lower lows since early May. Seasonal trends for Crude are very bearish from mid September right into December. Odds of clearing 92 are slim.