Prepared by Jamie Saettele, CMT
“Markets don’t move in straight lines and yesterday’s key reversal may be the beginning of a corrective advance back towards 8584-8725.” Crude made it to 8624 today, which is also short term channel resistance. What’s more, the rally from the low is in 3 waves, which leaves crude vulnerable from current levels.
LEVELS: 8225 8330 8451 8624 8725 8824
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