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Crude oil rebounds. Key tech level eyed

Discussion in 'Technical Analysis' started by ForexLive, Feb 12, 2016.

  1. ForexLive

    ForexLive Forum Member

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    50% of the last leg lower Crude oil is higher today and in the process has increased some of bearish technicals in the short term at least. Looking at the hourly chart below, the price has moved above channel trendline resistance in trading today. It also extended above the 100 hour moving average(blue line in the chart below) at $28.275.

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