Crude Support at 100 and 98
240 Minute Bars
Prepared by Jamie Saettele, CMT
Crude is tracking the triangle pattern. “The sideways pattern since November may take the form of a triangle. If so, then expect additional range trading between the current level and 10200 before an upside break (above 10390).” Wave D consists of 2 equal waves. Weakness from the current level would compose wave E (final leg of the triangle) and offer an opportunity to get long for the eventual breakout. Support is 100 and 98.
Bottom Line – flat
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