Oil is breaking the rising wedge
Oil is breaking the rising wedge 59.50 after a failed break above long-term upside resistance 65. Continuation lower could lead to a deeper pullback to 50. We need to see a substantial downside continuation here to test the 51 key upside support. This will not substantially change the uptrend, but it could if we get a break below 51.
Note – Look for the short trades with the stop loss above 61
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