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Trading Oil's Triangle Formation
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Trader Steve O'Hare, from First 4 Trading, is focusing today on Crude Oil, notably WTI. He says oil's in a major "triangle formation" which is still keeping prices contained.
He is looking to sell at $96.50 and his targets are $94.50 and $91.50.
However, Steve warns that a higher break could cause an inverted head and shoulders pattern.