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The West Texas Intermediate Crude Oil market has fallen rather hard, to begin with on Thursday but turned around to show signs of life just above the $110 level. By doing so, the market looks as if it is trying to break out and reach above the $120 level eventually. That being said, what’s worth noting is that we had seen the ascending triangle for the market hold as support during the session on Thursday, so it looks like we are going to continue to see buyers on dips. Ultimately, I think this market will go looking to the $120 level as a potential target.
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