CL1! - Weekly Market Update, 9/12
WEEKLY MARKET ANALYSIS - 9/12/22 (CLV2022)
The GRAY descending support region currently @ 85.00 for this week can contain selling near term,
above which the descending GRAY structure above @ 99.00 can contain buying strength near term.
Upside, for this week, we'll be looking for price action to be contained by the GRAY descending channel above @ 99.00.
A weekly settlement back above 100.00 (buy a 1%+ margin) should signal 109.00 to follow.
Downside, 85.00 can contain weekly selling pressures, while a settlement below 82.00 by 1%+
could trigger an accelerated move towards 67.00 able to contain selling through the balance of the year.
The GRAY descending support region currently @ 85.00 for this week can contain selling near term,
above which the descending GRAY structure above @ 99.00 can contain buying strength near term.
Upside, for this week, we'll be looking for price action to be contained by the GRAY descending channel above @ 99.00.
A weekly settlement back above 100.00 (buy a 1%+ margin) should signal 109.00 to follow.
Downside, 85.00 can contain weekly selling pressures, while a settlement below 82.00 by 1%+
could trigger an accelerated move towards 67.00 able to contain selling through the balance of the year.
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