Oil rises to 53.85 to close the week amid the new tensions after US Treasury Department issued a new wave of sanctions against Iran, in addition to the existence of an agreement between member of OPEC and Non-OPEC to cut oil output. Meanwhile, US Rig jumps to 583, highest since October 2015.
The possibility for oil to break 55 , the current strong resistance , become higher and if it's broken, oil will keep climbing to the new resistance range, the blue zone, with 60 as the average. The stronger fundamental trigger could make 64-65 revisited as mentioned earlier on my twitter months ago.
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