The momentum pushing crude oil futures (/CL) to multi-year highs has lagged in the face of rising cases of COVID-19. Dan Deming says an important technical level to watch in crude is 66.5, which is where it bottomed out most recently in July 2021. Deming analyzes the high trading volume in crude on Wednesday, Aug. 4, 2021, as well as gives his outlook for the energy space.
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