This is what I think where Oil will go

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Recent price action has suggested that there is still some “oomph” in oil. The price action is showing that oil has a high probability progressing upwards till 54.01.  I thought I was wrong in my analysis when oil retreated from a high of 53.75 yesterday. Today price recovered and is currently trading at 53.28. SO look out for 54.01 which I highlighted in blue. Any signs of big time seller would see me shorting and targeting 50.88