Crude Daily Key Reversal after Plunge
Prepared by Jamie Saettele, CMT
Crude’s decline has been nothing short of breathtaking. As mentioned many times in these technical pages, crude has served as a leading indicator and the ‘tell’ that global growth is slowing significantly. Even so, markets don’t move in straight lines and today’s key reversal may be the beginning of a corrective advance back towards 8725 or even 8926. Watch the Elliott channel.
LEVELS: 8119 8225 8280 8584 8725 8824
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