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Bullish Signal for Crude

(The Technical Analyst) James Dima, technical analyst at Marex Spectron, compares today’s crude market with that of 2012 and finds good reason to think a significant recovery will unfold. After the RSI broke above 30 on 19 June, two weeks of sideways action followed and another price low was seen near 80.00 in late June. By 14 September, however, the market had rallied back up to the 100 area.

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