Oil is trading in a weekly channel (purple). It has bounced off lower trendline and we expect it to go higher. On 4 Hr timeframe it is making an expanding wedge. Aim for upper trendline (yellow) of expanding wedge. We have divergence on 1Hr TF to support our trade direction.
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Trade in progess. We are in positive zone.
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Move stoploss to BE. TP=56.80