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wti crude oil

Oil prices did not make any major gains in the last session. Rather, price action was trading off the previous highs.

The consolidation near the price of 25.00 continues.

Although the Stochastics oscillator is hinting a possible higher momentum, unless we see WTI crude oil closing above 27.74, we could expect a move lower.

Therefore, the 25.00 level will prove to be important.

A breakdown lower could send oil prices to fall towards the 17.80 handle which is pending a retest of support.

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