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On April 10th Oil printed a temporary high of 114.06 before falling all the way down to the 106 level that supported the price twice to form a double bottom reversal pattern, 110.70-110.80 also worked as a pivot with a double retest before breaking higher and becoming the new support and ultimately breaking higher outside of the range. However, in order to confirm this technical break out we need to get a close above 114 by the end of today's close. This bullish close would open the path for new post-2008 highs challenging initially 116 and then 120.
