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Crude Oil Set For Big Rally

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 2, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The oil price has had a nice rise in the past week so let’s see just what is going on using the weekly and daily charts. OIL WEEKLY CHART We can see the 5 point broadening low in place. While we have nailed the last two lows I feel the longer term view may be a touch off. That revolves around price not trading below the 2009 low of $32.70. I am starting to have second thoughts about this. Why? I was expecting a bigger rise to have already been witnessed by now. It hasn’t. I’m pretty finicky

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