Oil is breaking above the congestion triangleÂ
Oil is breaking above the congestion triangle 66.60. This breakout can lead to continuation higher in a rising wedge to target 75. Strong support stays at 66 and any pullback to this level should be used for maintaining or building a buying position. It is now clear that Oil is in the upside continuation after a strong long-term 61 level breakout.
Note: look for a long trade entry with the stop loss below 68
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