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Oil Daily Update

The mini trend has stalled. The candles and technical indicators support a move downwards and the odds are bearish for tomorrow. A pullback below the March 23rd high will invalidate the green counts and will increase the bearish odds.

We are just 3 days away from the monthly closure which will likely be either bearish or very bearish. Today’s development could have a strong impact on the weekly and monthly closures.

The mid and long term targets remain the same, as discussed in the weekly report on March 25th. It can be viewed here:
https://investingangles.com/2023/03/25/oil-weekly-analysis-oil-oil-oott-commodities-2/

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