Oil is testing the strong support.
Oil is testing 62, which strongly supports the upside channel and horizontal line. A break below this level would lead to a downside reversal and a continuation to 50. A bounce is expected to lead higher to 76.22, which is an upside resistance, but an actual test before that, short-term is 70.30, and a break above that is required to conform upside reversal strength of Oil after the recent heavy sell-off.
Note: look for the long trade entry with the stops just below 65
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