Oil Rallying to $80 After Finding Support: Technical Analysis

(Bloomberg) -- Crude oil is set to rally to $80 a barrel after finding support around $70, according to technical analysis by Auerbach Grayson, a brokerage in New York. Prices will initially move up to challenge resistance at $75 a barrel, according to Richard Ross, an analyst at Auerbach Grayson. A close above $75 would set the market up to retest the $79-to-$80 area, Ross said.

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