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Publish Date25/06/2012 11:02:46 AM
Last Update25/06/2012 11:54:19 AM
Oil reversed to the downside in an attempt to resume the overall bearish trend, affected by the previously breached symmetrical triangle pattern, while Stochastic is providing oversold signals and may push oil again to recover. In general, the suggested scenario in our weekly report remains valid as long as 78.00 is holding.
The trading range for this week is expected among the major support at 76.00 and the major resistance at 86.35.
The short-trend trend is to the upside with steady trading above 78.00, targeting 104.65 and 110.55.
|Recommendation||Our morning expectations remain valid.|
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