Elliott Wave Analysis: Crude Oil Aiming For $55 Per Barrel
Gregor Horvat | Jul 25, 2016 04:24AM ET
Crude oil has a nice bullish structure on a daily chart where we labeled recent pullback down as wave four of a five wave rise from 26.00. We are quite confident that new highs will be seen very soon, so be aware of a rise towards $55 this month. In fact, that fifth wave up would also confirm a significant bullish turn on higher time frame charts since we know that five wave structures show direction of a trend.
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