US Crude Oil Chart Technical Outlook

US Crude Oil Chart Technical Outlook the immediate bias is bullish, with rallies to be sold
We have seen mixed trading results for the last 56 days. This has resulted in a large expanding wedge formation that has an eventual bias to break to the downside.
Inside this formation is a bullish channel. Trendline resistance is located at $81.69. Trend line support is located at $76.40.
The intraday chart highlights the completion of a bearish Bat formation at $80.78. We have a 261.8% extension level located at $81.53. .
Resistance: $80.78 (Bat), $81.53 (261.8%), $81.69 (trend line)
Support: $77.99 (swing high), $76.10 (bespoke), $74.25 (bespoke)

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