Oil is up 7 % on the day! by Milan Cutkovic

  • WTI Crude started the day around 49.65 and has made it up to 53.31
  • It’s the third consecutive up day in Oil and the squeeze continues
  • The rally has helped to boost commodity currencies, especially the Loonie, and put the USD under pressure
  • The next key resistance area is seen at 58.90-59.10 which was the mid-December triple top

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