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OIL WTI August

Price stabilize recently but far from get on strength.


Oil is still a subject to be corrected further and trade 50-60 range.

I will be watching for signs of price getting capped by MA 200 1h

We cannot rule out bit stronger rally near this year highs before retrace, so no position atm but instrument under watch 


Update 22th August


After today powerful rally we can have good short opportunity towards bottom of this wedge.

Breakout from can push price higher towards 70 price mark but over all favor is on sellers side 


Supports and resistances:
69.20
68.90
68.50
67.95 
67.25
66.40
65.70

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