Markets
US oil may rise into $59.95-$60.50 range
- A triple-bottom could be developing around $57.50. It will be confirmed when oil goes above $62.27. Even if this pattern turns out to be a flat consolidation within a range, oil is still likely to rise towards $62.27.
- A break below $57.88 will be a very bearish signal that the downtrend from $67.98 could have resumed towards $51.64-$55.50 range.
