We are now retesting the broken uptrend line from last August. Bulls have rallied significantly in the last week and a surprise build in inventory this past Wednesday pushed Crude futures even higher. However, we are now at a major resistance and moreover, the Daily 20EMA at $67.16 should subdue any advances. With OPEC meeting next week and the Saudis/Russians looking to increase output, there is no where for this to go but down.
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Nice breakdown.