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crude oil

Crude oil prices briefly shot up higher, rising close to 43.50 before giving back the gains.

Price action fell back to the 42.00 handle and support looks to be firm here.

But if the consolidation continues, then oil could possibly be at risk of falling back into the range within the 41.00 and 42.00 levels.

To the upside, the next key target level for oil will be the $50.00 mark.

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