Crude Oil Approaching Temporary Reversal
Gregor Horvat | Jun 15, 2016 05:05AM ET
Crude oil has a clear five wave drop from 51.66 high so we have to stay bearish here, but after a three wave rally that can be around the corner as we see price now in final fifth wave down that will look for a bottom soon. We think that a-b-c rally will show up in the near-term and ideally lift price back to 49.27 resistance from where new and strong bearish reversal may show up.
Crude oil, 1H
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