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Crude Oil Follows Our Near-Term Technical Script, Traverses Its Feb-Mar Bullish Channel

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Crude Oil is down another 2% this morning, after spiraling down nearly 4% yesterday in reaction to a much greater than expected build in Weekly Inventories. Let's notice that the weakness off of Tuesday's recovery-rally high at $41.90-- against the upper-channel boundary line-- has traversed the entire width of the channel, as the price structure probes the lower-channel boundary in the vicinity of $38.50, where the weakness should be contained, ahead of renewed buying interest. That said, my

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