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From : Commodities Daily Hotline: 17 April 2015
Chart of the day: Base breakout by Crude

 

The new spot June Crude Oil contract has maintained the clearance of the February ceiling; and base breakout.  There is some resistance nearby, around the 60 mark, but this appears fairly minor looking.  The multi-month base should prove capable of sustaining additional gains, possibly towards the 70 region.  A long is opened, with the stop placed at 45 (beneath the March low) for now. 






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