Oil has moved beyond the price range established since mid-September, breaking through resistance at $87.35 per barrel. Going beyond the limits of established range, price is used a support for the resistance. Buying a little above the high of the week at 89.69 should be a good strategy.

Asset: Light Sweet oil
Position: Buy
My entry price: 89.80
My take profit: 94.30
My stop loss: 86.00

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