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Crude Oil breaks out, as predicted!

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Over a month ago, the long term chart of WT Crude oil was showing evidence that a crucial price action was imminent. And, we were right! A fairly decisive move off this triangle pattern has emerged to the upside. This move confirms a secular bull move in $WTIC that started in early 2009. The next level to watch is around the $120 and then at the $140 level. This observation proves once again that long term charts are very powerful and should be used by every investor to get the big picture.

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