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BCOUSD made a bullish exit from its descending resistance line!

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Brent Crude Oil (OANDA:BCOUSD)  
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OANDA:BCOUSD   Brent Crude Oil
Trend Analysis Harmonic Patterns Chart Patterns BCOUSD BCO USD Oil bcousdlong Forex forexsignals Bitcoin (Cryptocurrency) BTCUSD
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trendanalysis harmonicpatterns chartpattern bcousd bco usd oil bcousdlong forex forexsignals bitcoin btcusd
BCOUSD has made a bullish exit from its descending resistance turned support line where it could potentially rise to its major resistance at 76.44 (50% Fibonacci retracement, horizontal overlap resistance) after bouncing off its support at 75.20 (horizontal overlap support).
RSI (89) has made a bullish exit from its descending channel and the ichimoku cloud shows signs of downward pressure which contributes to our bearish bias.

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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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