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Crude Oil Trading Bearish – Elliott wave Analysis

Crude oil is nicely unfolding a five-wave drop within sub-wave 3) of A, as part of a bigger, three-wave reversal. We currently see a minor pullback within a downtrend in play, which can look for resistance near the 67.6 area, where the lower channel line can also act as a reversal trigger and more weakness may follow.

Crude oil, 4h

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