Crude Testing Support from Channel and Former Resistance
Prepared by Jamie Saettele, CMT
Crude took a dive today before bouncing from the confluence of channel support and former resistance. The channel that is drawn is a corrective channel and a break below would suggest that an impulsive decline is underway towards much lower levels. 10250/10300 is resistance.
Bottom Line (next 5 days) – sideways / lower?
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