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Crude Oil Capped By A Negative Trend Line

Pivot (invalidation): 50.65

Our preference Short positions below 50.65 with targets at 49.90 & 49.55 in extension.

Alternative scenario Above 50.65 look for further upside with 51.00 & 51.30 as targets.

Comment The upward potential is likely to be limited by the resistance at 50.65.

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