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Monthly Trend Line Rejection - Wait For Stabilization

CFDs on Crude Oil (WTI) (FX:USOIL)  
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FX:USOIL   CFDs on Crude Oil (WTI)
Trend Analysis Chart Patterns Technical Indicators crude Oil WTI trading
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trendanalysis chartpattern indicator crude oil wti trading
Crude oil was rejected off the monthly trend line @ $67, and was not able to recover before falling below the MA @ $64. The MA is now acting as resistance. Today we broke below support again at $62.70, and the bearish momentum brought us down to $60.70. Now i'm watching and waiting for the stabilization around the $60-$60.50 level in order to re-analyze. Follow me to stay updated!

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