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Crude Consolidates after Bearish Continuation Pattern Trigger

Crude Consolidates after Bearish Continuation Pattern Trigger

2015-11-17 20:53:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Crude Consolidates after Bearish Continuation Pattern Trigger

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 43.

For more analysis and trade setups, visit SB Trade Desk

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