On the Oil chart, we can see that the instrument is bouncing off the 68 level of the uptrend support and we can see an upside test of the 72 level again. The 72 level is the strong upside long-term resistance which if it would be broken, we could see an extension into the 80 level. A daily close below the 67.70 level is needed for a pullback into the 64.50.
Note: look for the long trade entries with a stop loss below the 64.50 level.
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