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BARR Formation Lead-in Attempt by OPEC Headlines

Long
FX:USOIL   CFDs on Crude Oil (WTI)
3


WTI is attempting a lead-in on a BARR formation. This counter move is currently being produced by OPEC headlines. We saw this type of headline manipulation and expect a counter move to the 43-45 ceiling. Ultimately, we are bearish after this countermove with a price target of 35 on s1 monthly pivot.

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