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Oil Short - Possible Completion of Distribution Range

Oil Short - Possible Completion of Distribution Range

Crude Oil WTI NYMEX:CL1!

Prices failed to break in to higher range. If prices can close below 4 hr 200 MA, look for a break down below the past 7 week range.

Entry (December Contract): 47.25-47.97
Stop (December Contrat): 48.00
Short Term Target:40.25