Crude Oil managed to open with small gap price as prices moved above the 77.50 resistance.
With Iran tightening its grip in the standoff with the United States over the status of the Strait of Hormuz, oil prices have regained some upward potential.
The second resistance remains at 80.50 which still gives the downtrend wave to continue toward the 70.70 level.
Above 80.50, more advance toward 85.00 is likely.

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