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Crude Oil: Descending Channel

USOIL, 1 hour    LONG Aug 8
As we can see a descending channel has been encountered, the price demands a next move for clear breakout confirmation. A descending channel can be thought of as a price formation that can be used to signal that the price to go long once price breaks through the resistance. USOIL to have better chances of advancing to the 82 mark.
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