Patrick expects crude oil to bounce from lows toward 63-65 initially, but when oil approaches the previous six-month low of $66, that level will act as overhead resistance (since broken support becomes new resistance), suggesting crude will settle at lower levels for months until dust clears on tariff and recessionary impacts.
forecastpending
Speaker
Patrick SesnaEvidence Quote
“But there's a rule in technical analysis where what were all the previous lows when broken act as overhead resistance. And it is very likely uh that uh when oil approaches that $66 area where the lows over the last six months were being established, that will now act as an overhead resistance”
Created: 8/11/2026, 7:06:30 AM
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