Crude Resistance May Come in above 54
Chart Prepared by Jamie Saettele, CMT
-“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.”
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