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Tuesday, August 2, 2011

Crude Oil - working its way lower



We saw an almost perfect retracement in red wave (ii) to the lower part of my target zone, which streched from 98.43 - 99.17 We should now be in red wave (iii) down and a test of important support at 91.70 should soon be seen. A break below here will activate the Should-Head-Shoulder top for a decline towards the 64 area.

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