WTI: BROKE 8 MONTHS DESCENDING CHANNEL
Crude oil just broke out of 8 months descending channel after 3 months in the current consolidation zone and forming a head and shoulder pattern in the 4H TF. A daily candle still has to close though. This impending bullishness looks short-term because of the horizontal resistance, 1D MA 100 that has served as resistance for a while and the resistance of the consolidation range. For long term bullishness, all these resistances must be broken. If this fails the bottom the consolidation range support looks like the next stop
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