US Oil update

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Oil is in the monthly demand zone, so an uptrend can occur at any time. The current pattern could be an initial daily bullish pattern, which could lead to a daily bullish wave if the uptrend continues. If so, it will reach the weekly supply zone, and as it becomes a weekly correction pattern as a whole, it can lead to a weekly down wave again. However, if it gains support in the weekly supply zone, it can expand into a monthly corrcetion process, which can be a pattern that can lead to a long uptrend, especially if it breaks above the blue support line at the top of the chart and settles.

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