Prepared by Jamie Saettele, CMT
Crude has now retraced nearly 61.8% of the decline from 8660. There are several possibilities at the current juncture, including a triangle or flat from the June 4th low. In the event of a flat, price would exceed 8700 and perhaps even test 8926 before rolling over.
LEVELS: 7900 8000 8105 8394 8450 8585