A bigger triangle as part of a three-wave A-B-C reversal can be unfolding on crude oil in wave B. At the moment we are tracking final stages of a triangle, so be aware of a drop once final leg E of a triangle fully shows up. A drop below the lower triangle line would be an early sign of a completed triangle, and more weakness into 42.0/39.0 area for a wave C.

Crude OIL, Daily

Oil

 


 

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