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WTI crude oil prices are trading steadily above the key price level of 37.67.
Price action has, however, failed to post any higher highs. As a result, we see a double top pattern emerging near 38.60.
If this pattern is validated, then a breakdown below 37.67 could set the bearish pattern in play.
The minimum downside will be at 36.74, a few points above the 34.42 level of support.
A move to this level will also validate the lower support level for a more firm retest of support.
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