Weakness Observed, Expect Oil to retest Trend Line

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UKOIL is seeing a Bearish Harami pattern as price tried to retest US$80.00 level. The failure to break previous resistance coupled with bearish candlestick pattern signals that UKOIL is experiencing weakness and will expect to retrace and re-test trendline at US$75.00. Next target at US$72.00.

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