For several months it has been seen that commodities such as oil are moving for no specific reason supported by macroeconomic data. I will add more, the recent data does not affect the price at all, which is why many investors have made a bad investment decision several times. At the moment you can see that a triangle has been formed which will probably be stamped in one direction in the near future. Possible scenarios marked in the image. So far, the last strongest correction in the trend movement (OverBalance) has not been broken, which may indicate that orders were collected at the current level before the next move.
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