Autochartist has generated a forecast for a lower price range resulting from the breach of the Channel Up formation. The minimum projected target is $85.08 per barrel, with a possible prolonged decline carrying the market as low as $78.01 per barrel. This would bring the price within close range of the major swing low that occurred at the beginning of the channel, a level which will have to hold for US Crude Oil futures to maintain their long term bullish trend.

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