The relative calmness of recent sessions certainly looked a bit disconcerting, just like the silence on Iran. Now it appears that oil is about to make a move. And yesterday, black gold has indicated it wants to go down. Is it really the case and lower oil prices are ahead of us?

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The closing days of last week haven't brought move movement in oil, and the start of this week doesn't look to be an exception. Yet, we are able to glean meaningful signs from the price action so far. Will the current downswing usher in lower oil prices?

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Today’s price action in oil may look to be boring at first sight, but it is far from being so. There appears to be pressure building under the surface. Actually, this chart situation is such that it leads us to open a new position. The bulls have been strong lately but look to be taking a breather now. Or, is that a breather? Figuring out the right answer is what today’s Alert, and the new position, is all about...

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Yesterday's price action has been eventful even though oil closed almost unchanged. Today has brought us a strong bullish gap. Instead of getting carried away by the day's spirits, let's examine the obstacles the bulls face just ahead. Will they be strong enough in overcoming them?

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