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WTI crude: Watching the $80 psychological barrier
Been closely watching WTI these past few sessions, and it seems like the $80 mark is still holding as a pretty significant psychological barrier. Every push above it has been met with solid selling pressure, leading to quick rejections. I'm viewing a sustained break and hold above $80.50 as the invalidation point for the current range-bound scenario, potentially opening the door for a move towards $82-83. Until then, it feels like we're just chopping around within the broader consolidation.
4 comments · 3 points
I've noticed the same, that $80 level is proving to be quite stubborn. Do you think it's more about profit-taking from shorter-term traders or is there a fundamental resistance building up around that price point?