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WTI Oil - eyeing decadal rising trend line hurdle around $48

FX:USOIL   CFDs on Crude Oil (WTI)
Check out the monthly chart.

If we join Dec 1998 low and Nov 2011 low and extend the trend line to infinity, we see it acting as a resistance today around $48.00.

Note the trend line acted as a strong support post 2008 crash. Watch for exhaustion as prices near $48.00 as we may head back to $45-43 levels on repeated failure near $48.00.
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