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WTI oil recently reversed down from the resistance zone lying between the powerful resistance level 66.60 (which has been steadily reversing the pair from the start of March – as can be seen from the daily WTI oil chart below) and the upper daily Bollinger Band. Given the strength of the resistance level 66.60 – WTI oil can be expected to fall further toward the next support level 63.15 (former resistance from April and the low of the previous waves (iv) and (ii)).
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