Commodities Weekly (25 Sep ’17)

Oil prices showing signs of improvementRegaining higher levels as momentum studies tick higher and the positive Tension Indicator continues to extend.

The close above $50.00 has turned focus to the $52.00 high of May.

A further close above here will open up a test of critical monthly resistance at the $55.24 high of January.

Improving background studies should limit downside tests.

An unexpected close below $49.00 will delay gains and promote consolidation.

Upgrade to Positive.

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