FX:USOIL   CFDs on Crude Oil (WTI)
96 0 7
We might see a 2 month range break next month based on technicals. The median line from the pitchfork formation drawn off the lows of this year has provided nice pivots in price. Although we have yet to see any touches of the bottom parallel line which will be coming into focus next month (July) But this pitchfork dose give a nice slope in price. Also to note the 100 and 200 day moving average as they are tightening. As for how to trade this if we see a break I will leave that open as we all have different styles of trading. I mapped out the levels that I will be looking at to provide resistance on a break to the upside and support on a break to the down side. The arrows on the chart provide guidance as to how price should act on a breakout. Note price has been in a range for a while and a break of this range will likely result in a strong move.
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