The very same resistance zone 53.80 – 55 stopped crude oil again. That was the 7th time crude was unable to break out.

But the real test would come at 50.00 support. That a-b-c move down may easily get bought out at tat level and then crude could make another attempt to break out through 55.00.

Crude oil - 45 min chart updated on 28 January 2019

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