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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 94.42%, while traders in France 40 are at opposite extremes with 78.72%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/oVnfHgqKie
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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 94.38%, while traders in France 40 are at opposite extremes with 78.27%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/x6BPnBF4lP
Crude Short Term Head and Shoulders a Possibility

Crude Short Term Head and Shoulders a Possibility

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_oil_body_crude.png, Crude Short Term Head and Shoulders a Possibility

Prepared by Jamie Saettele, CMT

Last week’s drop to a new January low leaves the high as the second day of the month and early month price extremes (first few days) are statistically significant. Price is at resistance now and pattern since the 12/27 high is reminiscent of a head and shoulders top. The downside is favored against the January high.

Bottom Line – short, stop 10375, target open

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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