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UKOIL: Head and Shoulders on Crude
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UKOIL, 480
Head and Shoulders on Crude

Been watching this pitchfork formation for the past month, with most action taking place in the green central band. It's been a slow trickle up, with a few bursts into the purple band above, but no real spikes to the purple area on the downside. I think we're seeing the start of a head & shoulders breakdown, and I expect weakness in Oil prices to continue from here.

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