OIL prices continue to experience a sluggish trend ,even the rising tensions in the middle East have FAILED to significantly impact oil prices. Chinese crude oil imports continue to DECLINE, signaling a sluggish recovery in the worlds second largest economy. Technically it has broken down with the Elliot wave or is it false break-out? The news so far supports a down trend, in the past it kept on bouncing off on the Red trendline . it should breakdown from here.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.