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OIL, AWATING CONFIRMATION FOR LONG OR SHORT

OIL, AWATING CONFIRMATION FOR LONG OR SHORT

Price is currently at our monthly resistance area, if price breaks resistance our upside target could be the 47.78 area. If price is rejected by resistance our target could be the 40.28 area. On the weekly and monthly timeframes we are on a downtrend so this could be a retracement ready for a move to the downside. We will await confirmation on the markets movements