Crude Nearing Measured Level of 86.64
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“Above 98.64 would suggest that a near term low is in at this confluence. Until then, respect downside potential.” Crude has fallen apart. Remember, COT has indicated an extremely crowded trade forever. That trade is finally getting washed out. A downside objective is 86.64 (2 equal legs from the 2013 high and channel support in a few weeks).
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