Crude oil prices have reversed course and are pushing back higher once more. This comes after oil prices held a key support level.
The latest price action is a near-term positive for Crude Oil (and the Energy sector) and has me looking for a push higher in the days ahead. In fact, I think there is a good possibility of pushing back to new all-time highs in weeks ahead before seasonal weakness sets in.
Note that both Natural Gas and WTI Crude Oil firmed up on Tuesday and this could be a sector to favor in the days ahead. Looks for stocks exhibiting relative strength (i.e. leaders).
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