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Crude Oil & The Lines
Fibonacci retracement, the channel, and the volume. What can we learn from them about the next price move? Let's start today’s analysis by recalling the technical situation at the time of the publication of the last Oil Trading Alert: (…) What paused the bulls? (…) crude oil climbed to the upper line of the very short-term purple rising wedge, which woke up the bears and encouraged them to act – not only before yesterday’s session closure, but also earlier today. (…) the commodity extended losses and slipped to the first Fibonacci retracement based on the entire recent upward move. (…) What could happen ... (full story)