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Oil News and Analysis

Pivot: 45.7

Most Likely Scenario: Short positions below 45.7 with targets @ 43.7 & 42.6 in extension.

Alternative scenario: Above 45.7 look for further upside with 46.6 & 47.8 as targets.

Comment: As long as 45.7 is resistance, likely decline to 43.7.

Crude Oil (NYMEX) (H5) Intraday: capped by a negative trend line.

Oil chart

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