Chart of The Day $Oil 10-24-2016

On the Oil daily chart we can see that it is supported by 49.40-50 zone and is trying to break 52. It looks like a this right shoulder of massive long term Inverse H&S is coming to an end. Definite break of the neckline 52 level could lead to a 60-70$ zone

Happy trading! (click on the chart to enlarge it)

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