Oil downside continuation
Oil is breaking below 68.65 which is a 200 SMA handle now. A break below this level could accelerate the reversal lower to 63 if it will be confirmed today, which is significant resistance for a long-term downside reversal. A bounce off this level will leave the Oil in a recent short-term consolidation with limited upside at the moment.
Note: look for the short trade entries upon a confirmed break below 68.60
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