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Crude Resistance May Come in above 54

Crude Resistance May Come in above 54

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

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

-“Crude has declined sharply from former support (bold black line). The rally was probably part of a 4th wave within the decline from the 2013 high…this chart suggests that crude is headed to 20 or so.”

-“Crude has plunged into a slope confluence. This is a good spot for a rally attempt. Watch for resistance in the 54.00s and near 58.”

For more analysis and trade setups, visit SB Trade Desk

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