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Technical Patterns Suggest More Trouble Ahead for Oil


Oil is breaking down beneath resistance as tight moving averages are beginning a negative expansion.  The 20-day will most-likely cross the 50-day on Monday which will line up the metrics in negative succession (100-day over the 50, 50 over the 20) all with negative trends. 

If the dollar catches any kind of bid next week, oil could test long-term support levels.

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