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Crude Oil Runs Into Resistance

Crude Oil Runs Into Resistance

November 16, 2017

It seems that crude oil ran into some resistance at the highest level of the year when the energy commodity reached $57.92 per barrel on the December NYMEX crude oil contract on November 8. In my latest piece for Seeking Alpha, I explain why long crude oil has become a crowded trade with bullish and bearish factors at play, how chances of a price shock to the upside have increased, and why $50 is still a sweet spot for NYMEX light sweet crude oil.

Article: Crude Oil Runs Into Resistance

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