The medium to long-term technical picture of the Crude OIL is exceptionally interesting at this point, where the likelihood of a full fledge downside reversal has increased significantly. However, the short-term picture is still positive and pointing upwards for a small scale push, towards $75.5. Our official trigger level for the potential downtrend is at $73.82. Stay tuned...

Price chart of USCrude in real time mode

CRUDE OIL Major downside reversal maybe imminent

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

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