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Crude Oil is a Two-Way Market After All, Now what?

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Right now, apart from the fact that nearby Oil held support above $42.00-$41.80 into yesterday's plunge, today's upside reversal must sustain above $45.00-$44.60 on a closing basis for me to consider the action a significant upside-reversal session. In addition, I will be interested to look at the micro (5-minute) pattern carved out by today's upmove, to help determine if it exhibits bullish or recovery-rally form. So far, the jury is out on the latter, but looking very promising for a key,

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