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An interesting situation begins on the Oil which is in the process of creating a second downward channel, this time local in the H1 interval. Exiting the canal may initiate a stronger move to either side.

At the moment, we have an upward trend with local corrections, and the range is quite large, which may translate into a desire to “clear” weaker investors from their position and then reach the level of USD 57.5 per barrel.

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