Crude Oil Capped By A Negative Trend Line

Technical analysis of Forex market

Pivot (invalidation): 23.80

Our preference Short positions below 23.80 with targets at 20.05 & 17.80 in extension.

Alternative scenario Above 23.80 look for further upside with 25.00 & 26.20 as targets.

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Comment The RSI is bearish and calls for further decline.