Crude Responds to Fibonacci Resistance
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-Crude is coming off of a top that is accompanied by a sentiment extreme. In fact, COT remains pinned near record levels. The current juncture is even more important in light of the proximity of the 200 day average.
-Crude has reacted to the 61.8% of the decline from the April high. Look lower.
LEVELS: 99.26 100.39 101.14 | 102.21 103.78 104.25
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