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Oil's Downtrend Is Still On

Published 15/08/2017, 11:38
CL
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The major sideways action is defined by the blue channel but more importantly the red major downtrend seems to be in control although it needs a confirmation reversal at its top band. If it rallies to that level around 51.50 and comes down to break the blue bottom band, we should see Oil at 30 handle in the coming months.
The red channel is the ruler

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