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    Video analysis - Oil WTI set for significant pullback?

     Why Oil WTI could head lower:

    • Oil WTI is trading at a very significant level of support of 47.55

    • If this level is broken, then this will be a strong signal that the market may extend its corrective movement and head even lower

    • The next two targets if Oil WTI heads lower are 45.39 and 44.87

    • These levels also coincide with the 55-day moving average

    • The formation of a ‘dark cloud cover’ candlestick pattern is another indication of a bearish trend

     

    Any person acting on this information does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it.


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