Oil has broken bottom of trend channel

As Oil has broken its bottom of the trend channel there is a massive price break down in the cards, considering present recession fears and FED price hikes. I expect price to move into the lower range box with a price target of US$ 63 - 65 mid-term.

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On the RENKO Chart we can see a price barrier at around 95 $. If price can break below that level we could see price to settle in the lower range box.