Crude Oil is breaking down the channel
The Crude Oil prices rallied in the past week (including yesterday) in a bullish channel that now seems to be breaking.
This perfect up move in the channel, having no failures, is how an impulse wave should look like and a probable down move in the next hours will have a corrective function. The target is the $79.50-81.90 area and reversal signs at these prices may offer highly rewarding long position opportunities.
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