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Crude Consolidates after Bearish Continuation Pattern Trigger

Crude Consolidates after Bearish Continuation Pattern Trigger

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

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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