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Crude Breaks Support; Triggers Bearish Continuation Pattern

Crude Breaks Support; Triggers Bearish Continuation Pattern

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Crude Breaks Support; Triggers Bearish Continuation Pattern

Chart Prepared by Jamie Saettele, CMT

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

-Crude oil has completed a head and shoulders continuation pattern. The objective from this pattern is 35.50 (new lows). Price is at a median line that was support for the October low so weakness below here could lead to a free fall towards the August low. Resistance is now near 44.

For more analysis and trade setups, visit SB Trade Desk

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