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Crude Oil (Daily Chart) - Time for a Rebound!

Long
CFDs on WTI Crude Oil (TVC:USOIL)  
SynapseTrading  
TVC:USOIL   CFDs on WTI Crude Oil
Trend Analysis Chart Patterns Beyond Technical Analysis Crude Oil Crude Oil WTI Commodities commoditytrading priceaction priceactionanalysis Technical Analysis synapsetrading
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trendanalysis chartpattern beyondta crudeoil usoil commodities commoditytrading priceaction priceactionanalysis technicalanalysis synapsetrading
After a prolonged bearish sell down, this counter might be overdue for a rebound, which we might see this week.

There is strong support at the $60 level, and prices have deviated very far from the 20-EMA, which is a sign of it being oversold.

The overall trend is still bearish, and if it does rebound, I would expect the sellers to step back in at around $64 to resume the downtrend.
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