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OIL - watch this carefully

OIL - watch this carefully

Watch the Next 50 cents very carefully. Oil needs to make lower lows and stay in the band.
Right now all forces are pointing South

  • Oil continues to go down on high volume .
  • MA 50 (Red line) is below MA 200 (Grey line)
  • China is just starting to end it's massive strategic reserve buying
  • Iran is doubling it's production
  • US production has gone up
  • Canadian stock is hitting the market again