Is Crude Oil Sitting at a Critical Trend Juncture?
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After a volatile week in crude oil futures, Friday saw slightly higher prices at the close. However, for the week, crude oil fell for the second time in two weeks. Two nuclear-armed countries fired missiles and drones upon each other for the first time in history. The US will be placing sanctions on Iran’s oil. The EU is considering similar actions. These events typically would be bullish for energy prices. What does this recent price action tell us about its direction?
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