Though it wasn’t the catalyst for a trend reversal that it could have been, oil looks to have marked a clean breakout from a near month-long wedge formation in Friday’s close below $76.75. The hesitancy on follow through is a reflection of two contrasting forces: supply-and-demand fundamentals that maintain the theoretical value of the commodity and speculative interests that actually set price.

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Oil Finally Marks a Critical Break but Risk Aversion will have to Step up for a Bearish Trend