Crude Oil - Only A Pullback Before Continuing Lower (Elliott Wave)

Gregor Horvat Wavetraders

Hello fellow traders,

Crude oil is currently recovering, however we see latest rise as sub-wave c) of two, which can look for resistance, and a bearish turn near the 56.6/56.75 area. A drop in impuslive fashion, and below the 55.00 lvl. would suggest a completed pullback, and further weakness.

Crude oil, 30Min

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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