Oil is testing the breakout resistance
Oil is testing the breakout resistance 82. A break above this resistance is required for the upside reversal and a bullish extension higher. A rejection here could leave the instrument in a range between 73 and 82. We need to see a significant break below 70 to invalidate this bounce from the uptrend channel bottom.
Note: look for the long trades with a stop loss below 75 upon a break above 82
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