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Oil Is Bearish As 280 Pips Have Been Secured

Oil has formed a 1-2-3 pattern and we might see further move down. I have secured 280 pips from my entry.

Historical selling has been aligned with the now moment. 71.00 is major support now. If the price makes a close below on a daily timeframe we should see a continuation down towards 69.05 and 68.56. As long as the current high is a resistance we should see a bearish correction down. Watch for price action.

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