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Another selling opportunity in crude



Crude is moving in a descending parallel channel and constructed a bearish bat harmonic structure all these factors are suggesting 100 zones as per strong resistance zones and bearish crossover on stochastic with our bought reading suggesting that reversal is near and resumption to down trend is likely till crude oil is trading below 100.

Technical Recommendation: Selling around 99.80-100 zones with stop loss above 101.30 zones on 240 minute closing basis for expected target around 95.50-92 would be a good trading decision.

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