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Crude Oil Gives Back Some of Last Week's Recovery Gains

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 29, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The "good news" for oil is that last week's up-move exhibits bullish form from $34.12 to $38.28, which if accurate, means that after the current pullback runs its course, Oil should embark on another up-leg that takes out $38.28 to challenge more extensive resistance at $39.00-$40.00. Where will the pullback run its course? My optimal target buy zone is $36.20-$35.50.

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