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SINGAPORE: US oil may break a resistance at $73.57 per barrel and rise to $74.99.
The uptrend from $61.56 remains steady.
It is riding on a wave C, which consists of many impulsive waves.
Oil failed twice to break $73.57. It may succeed in its current attempt.
Support is at $72.70, a break below which could cause a fall into $71.28-$71.96 range.
Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.
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