Oil is bouncing off the 80
Oil has made a significant bounce from the strong rising wedge support 80. This could lead to a 92, a significant upside reversal resistance test. After a recent sell-off, a break above 92 is required for a complete upside reversal. Now only a break below 81 will lead to a further downside and a break of a long-term uptrend.
Note: look for the long trade entries upon a break above 92 with the stop loss below 85
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