Crude Closes at 20 Day Average
Prepared by Jamie Saettele, CMT
“Crude has held channel support but the break of the March range is bearish. 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.” Price closed at its 20 day average today and remains below the monthly high of 10546 (which remains the pivot).
Bottom Line (next 5 days) – lower?
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