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Crude Oil: Ascending Triangle

USOIL, 1 hour    LONG Aug 29
We can see that an ascending triangle is observed and the price calls for a more bigger move for clear breakout confirmation. An ascending triangle tends to be a useful price action signal that often predicts that prices are likely to keep rallying upward if price breaks above resistance. A further bullish move to 80.6 is probable on a breach of 80.5 as the commodity nears 80.5 hurdle.
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