CL1! - Weekly Market Update, 10/31

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WEEKLY MARKET ANALYSIS - 10/31/22 (CLZ2022)



The TEAL ascending support region currently @ 77.75 for this week can contain selling near term,

above which the descending ORANGE structure above @ 89.00 can contain buying strength near term.



Upside, for this week, we'll be looking for price action to be contained by the TEAL ascending channel above @ 94.25.

A weekly settlement above 94.75 (buy a 1%+ margin) should signal 110.00 to follow.


Downside, 77.75 can contain weekly selling pressures, while a settlement below 77.00 by 1%+

could trigger an accelerated move towards 66.50 followed by 52.25 which is able to contain selling through the balance of the year.

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