December Crude Oil is barely hanging on to an uptrending Gann angle from the 65.55 bottom at 78.05 today.  This angle is moving up at a pace of .50 per day and has been holding for 25 days.

A breakdown through this angle is likely to trigger an acceleration to the down side with 73.77 to 71.83 the most likely target.

Yesterday's minor reversal bottom is still intact, but needs to break out over 80.46 to confirm it.  A trade through 77.03 will negate the formation.

Daily Chart

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