Crude Doji at Trendline Resistance
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“The news top led to a sharp decline but crude is nearing levels that likely inspire a rally attempt. 95.59-97.09 is a support zone. The decline is impulsive, which raises the possibility of a larger decline following a corrective rally.”
-The declines from the early March high is impulsive (5 waves), warning that crude will eventually break down. 105.19 obviously needs to hold if that is to happen.
LEVELS: 100.73 101.61 102.21 | 103.41 104.73 105.19
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