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Crude Oil






6/27/2017 12:36:09 AM

Crude Oil - Technical Analysis: Tuesday, 27/06/2017 04:36 GMT



Crude oil price moves at the descending channel's resistance, while we notice that the price is confined inside the bearish pennant's pattern that appears on the chart below, to keep the bearish trend expected for the coming period, and it needs to break 42.65 level to confirm rallying to the downside towards our next target at 40.00.

On the other hand, surpassing 43.50 and settling above it will push the price to turn to rise, to head towards achieving positive targets that reach to 46.70 on the near term basis.


Target
Risk


Support
Resistance


Trend Bearish

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