Crude oil has been in a bearish trend but has reached a key weekly support level. A bullish divergence, coupled with a double-bottom pattern, indicates potential for a reversal. A confirmed breakout above the neckline and bearish trendline could signal bullish momentum, presenting a strong buying opportunity.
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Disclaimer
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.