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Crude Spikes Higher; Closes Unchanged

Crude Spikes Higher; Closes Unchanged

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_oil_body_Picture_2.png, Crude Spikes Higher; Closes Unchanged

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-Today’s sharp intraday reversal may cap the recent bull move. Exceeding 105.19 would negate the bear case.

-A drop below 102.90 would put crude on the path towards 101.50.

LEVELS: 99.89 101.61 102.90 | 105.19 106.38 107.58

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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