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This Commodity Has Fallen to Multiyear Lows 

Last Updated: July 25, 2019

By Rayner Teo

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This is the monthly chart of Crude Oil. It has fallen 5 months in a row and recently broke the support at 89.

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On weekly we see a steep parabolic move towards the downside with no end in sight.

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On daily we notice that price tends to bounce off the 20 EMA.

Traders can consider shorting on pullback or look to trade breakout to the downside.

Good Trading!

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