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US Oil is approaching a resistance line of a Channel Down. It has touched this line numerous times in the last 3 days.

US Oil is trapped in a Channel Down formation, implying that a breakout is Imminent. This is a great trade-setup for both trend and swing traders. It is now approaching a support line that has been tested in the past. Divergence opportunists may be very optimistic about a possible breakout and this may be the start of a new trend. It may also be that this convergence factor may result in the ideal setup for swing traders that are on the lookout for a possible bounce-back. Whatever happens, an initial move towards 61.2461 is expected in the short term.

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There is a 66.67% chance of MW trending upwards

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AVGO formed a Channel Up on the 1 hour chart. Retest of resistance in sight.

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