Crude in a Violent Range-Support is Under 100
60 Minute Bars
Prepared by Jamie Saettele, CMT
Crude has been swinging violently in a little more than 3 dollar range since 1/4. Such action is typical of a triangle or flat. In the case of a triangle, the range will contract over the next week before an upside break. In the case of a flat, crude will probably slip below 100 before reversing higher.
Bottom Line – flat
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